Thornburg Investment Management Portfolio Manager Christian Hoffmann in Bloomberg News

Powell’s ‘Totality of Data’ Keeps Bond Market in Limbo

The US bond market’s day of reckoning has been postponed for at least a week.

While Federal Reserve Chair Jerome Powell’s speech at the central bank’s annual meeting in Jackson Hole Friday was unequivocally hawkish, the market remains near-evenly divided about the outcome of next month’s policy meeting. Still-elevated inflation makes a rate increase inevitable, but the size “will depend on the totality of the incoming data and the evolving outlook,” Powell said.

Read more here.