Treasury yields jump early Wednesday as investors await minutes of the Federal Reserve's March policy meeting, which is expected to offer details on plans to...
Treasury yields jumped early Wednesday as investors awaited minutes of the Federal Reserve’s March policy meeting, which is expected to offer details on plans to begin unwinding the central bank’s nearly $9 trillion balance sheet.
What are yields doing? What’s driving the market? The 2 p.m. release of the minutes from the Fed’s March policy meeting remain highly anticipated, with investors eager for clues to the path of monetary tightening, particularly plans for shrinking the central bank’s nearly $9 trillion balance sheet. Remarks by Fed Gov. Lael Brainard that reinforced expectations for the Fed to move quickly in reducing the balance sheet sent yields jumping, particularly at the long end of the yield curve. Brainard said the central bank will “continue tightening monetary policy methodically through a series of interest rate increases and by starting to reduce the balance sheet at a rapid pace as soon as our May meeting.
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