Warsh's 'Hawkish Tone' Sends Stocks, Bond Yields Lower
Dow Jones
8 hours ago
Stock indexes dropped and bond yields rose as Fed Chairman Kevin Warsh concluded his news conference. Traders appear to be coming out of the press conference expecting more rate hikes than they did prior to it starting.
"The hawkish tone of the press conference" drove markets lower, said Jeff Schulze, head investment strategist at the Franklin Templeton Institute. "Warsh's press conference closely echoed the hawkish tone of his Jackson Hole remarks, framing the hike as evidence that the committee is backing its words with action on returning inflation to target."
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.