Treasury yields were choppy in initial measures pending Chairman Powell’s speech on Friday There was little reaction from GDP or claims data, although marginal increases in GDP growth and consumption and claims tightening weighed in. Bonds have already pared their earlier gains after comments from the KC Fed’s George Fed, who suggested the FOMC would have to push rates up into restrictive territory, perhaps above 4%, and keep them there to reduce demand.
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Chief Market Analyst
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