Bonds Sink on FOMC Statement

The Fed appeared to keep its hawkish stance on inflation

S&P MARKETSCOPE: Bonds sank late in Wednesday's session after the Federal Open Market Committee (FOMC) said the economy has slowed and inflation remained high. Most observers viewed the statement as hawkish on inflation. Many market players don't think the Fed will cut rates for a long time maybe waiting until next year. But any moves will depend on economic data. The Fed is looking at the housing sector and former Richmond Fed President Broaddus said he thought they were concerned about slowing productivity.

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