Bond Market Signals Powell's Fed Debut Merely a Risk That Passed
- Treasuries rally most since Feb. 5 stock-market rout
- Focus now shifts back to trade tension between U.S. and China
Jerome Powell's First Meeting with Federal Open Market
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Was Federal Reserve Chairman Jerome Powell’s first interest-rate decision hawkish or dovish? Bond traders aren’t dwelling on the answer.
Treasuries extended a post-Fed rally Thursday, sending yields tumbling the most since the Feb. 5 equities rout. The focus has already shifted to tension between the U.S. and China with President Donald Trump set to announce about $50 billion of tariffs against America’s largest foreign creditor. The yield curve, which steepened after the central bank raised rates Wednesday, reversed course Thursday and is near the flattest since 2007.