By Greg Robb and Joy Wiltermuth
The yield on the 'long' Treasury bond touched its highest level since 2007 during Warsh's press conference
Federal Reserve Chair Kevin Warsh held a news conference on Wednesday, and the yield on the 30-year Treasury bond touched its highest intraday level since 2007.
The yield on the 30-year Treasury bond spiked higher as Federal Reserve Chair Kevin Warsh's Wednesday press conference progressed, a sign the market is worried that the central bank isn't prepared to lower inflation with interest-rate hikes.
"I think the best way to put it is that the market is calling his bluff on inflation," said Steve Sosnick, chief strategist at Interactive Brokers. "It was already on precarious footing to begin with" ahead of Warsh's press conference, he said. "But it was clear once the bond traders got to work that the stock market was destined to follow."
