Treasury yields are grinding higher again in the wake of this week’s meeting of the Federal Open Market Committee, which held interest rates flat for the fifth meeting in a row.
In addition to that vote, comments from new Federal Reserve Chair Kevin Warsh around the meeting spooked investors, leaving them questioning whether the Fed could adequately tame inflation.
Bonds rose in real time as Warsh delivered a press conference that suggested he could be a “dove in hawk’s clothing,” as Evercore ISI analysts put it in a note after the call.