5 x 10 Spells Trouble

The Credit Strategist Blog

The yield on the ten-year Treasury bond is flirting with 5% for the first time since 2007 as markets await a noon speech from Fed Chair Jay Powell. Markets are hoping that Mr. Powell will say the Fed is done raising rates but that is probably the best that can be expected. Mr. Powell is unlikely to declare that the war on is inflation over or indicate…