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Why Kevin Warsh’s arrival at the Fed may catch fixed-income investors off guard
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Why Kevin Warsh’s arrival at the Fed may catch fixed-income investors off guard
As investors focus on the likely confirmation of a new Federal Reserve chair, Kevin Warsh, many may be overlooking the market that could have the more volatile reaction: bonds. Whenever there is a Fed transition, treasury yields, duration risk, and credit spreads usually move faster as the markets begin to reassess monetary policy."What is really…
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