The Weekly Fix: Rate Markets Stuffed With Hikes, China’s Outflow
The seal of the U.S. Federal Reserve Board of Governors.
Photographer: Samuel Corum/Bloomberg
Welcome to The Weekly Fix, the newsletter that would’ve found that next big trade if it wasn’t so busy. Hi, I’m cross-asset reporter and editor Emily Barrett.
Rates markets are starting to look pretty fully priced for the extent of Federal Reserve policy tightening (sorry, normalization, and then a bit of tightening) that we’re likely to see. The quarterly rise in the two-year Treasury yield has been the sharpest since Paul Volcker was chomping thoughtfully on his cigar in the Fed chair.