cover of episode UBS On-Air: Paul Donovan Daily Audio 'The fruits of Fed failures'

UBS On-Air: Paul Donovan Daily Audio 'The fruits of Fed failures'

2023/8/22
logo of podcast UBS On-Air: Market Moves

UBS On-Air: Market Moves

Shownotes Transcript

Real yields helped push US 10-year yields higher yesterday. Caution is needed when interpreting market moves in the dull days of summer, but there are concerns that the Federal Reserve may keep rates higher for longer. Fed policy fears are difficult to control, because Fed Chair Powell’s 2022 policy errors trashed forward guidance. Work from the San Francisco Fed suggests policymakers are more divided than normal.