At Jackson Hole, Stan was the man.
Federal Reserve Chair Janet Yellen's long-awaited speech on Friday was interpreted by the markets as somewhat dovish on future interest rate hikes, with five-year real yields lower after investors digested her commentary. But shortly thereafter, Vice Chair Stanley Fischer indicated in his own remarks that a potential interest rate increase in September and a total of two hikes in 2016 were consistent with Yellen's published remarks, which helped fuel a sell-off in Treasuries.
