By Joy Wiltermuth and Greg Robb
New Fed Chair Kevin Warsh appears to be supportive of bond markets leading the way - so he doesn't have to hike interest rates
Markets are adjusting to new Federal Reserve Chair Kevin Warsh.
Federal Reserve Chair Kevin Warsh last week suggested that markets should do more of the talking when it comes to guiding investors on where interest rates, inflation and the economy are headed.
The $30 trillion Treasury market was taking that message to heart on Monday as yields jumped, despite U.S. oil prices (CL00) receding below $74 a barrel. That's a level last seen nearly four months ago, hinging on hopes for more oil-tanker traffic through the Strait of Hormuz and a flood of Iranian crude flowing on the market.
