The yield on the 30-year Treasury bond reached its highest level since 2007 during Federal Reserve Chair Kevin Warsh’s Wednesday press conference. This rise in yields reflects market concerns about the central bank’s willingness to combat inflation through interest rate hikes. Steve Sosnick, chief strategist at Interactive Brokers, stated that the market is calling Warsh’s bluff on inflation, which was already on precarious footing before the press conference. The surge in long-term rates suggests that equity markets are destined to follow the same downward trend.
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