Balance of Power All Eyes on Jackson Hole Ahead of Powell Speech
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US Treasuries snapped two days of gains as traders pared bets on a September interest-rate cut ahead of the Federal Reserve’s gathering at Jackson Hole.
The yield on the 10-year benchmark rose four basis points to 4.33%. The two-year yield — which is more sensitive to changes in monetary policy — moved up to 3.79% Thursday in New York.
The selloff accelerated after Fed Bank of Cleveland President Beth Hammack said she wouldn’t support lowering interest rates if the meeting were tomorrow, citing inflation figures. Fed Chair Jerome Powell will deliver his remarks at the Jackson Hole, Wyoming, symposium on Friday morning.
Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Bloomberg's Tyler Kendall and Michael Shepard are in for Joe and Kailey. They speak with:
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- Republican Congresswoman Nicole Malliotakis of New York.
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