WS #13062
30-year yield tops 5.2% as Fed Chair Warsh's hawkish rhetoric fails to convince bond vigilantes; Yardeni says Warsh failed first credibility test. Yen jumps 3% to 157 range, strongest since May, fueling intervention speculation; risks to carry trades and Japanese equities.
Bond market selloff and Fed credibility test
30-year yield tops 5.2% as Fed Chair Warsh's hawkish rhetoric fails to convince bond vigilantes; Yardeni says Warsh failed first credibility test.
Yen jumps 3% to 157 range, strongest since May, fueling intervention speculation; risks to carry trades and Japanese equities.