Mar
06
Morgan Stanley Is Begging the Fed to Let Go of the Market’s Hand
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Fed’s communication strategy seen constraining bond activity
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Treasury yields will “remain subdued” until further Fedspeak
The Federal Reserve has been holding the hand of the world’s biggest debt market far too tightly.
So laments Morgan Stanley head of global interest-rate strategy Matthew Hornbach after a week in which a bevy of Fed officials telegraphed a March interest-rate hike, with the exclamation mark coming Friday from Chair Janet Yellen. So swift was the turnaround, that market-implied odds of a hike this month moved from less than 50 percent to a virtual certainty in the space of five days…
Morgan Stanley Is Begging the Fed to Let Go of the Market’s Hand
