Stock futures were up Friday while bond yields were little changed
following massive selloffs earlier this week.
The Treasury's unexpected decision Wednesday to double the buyback volume of long-end nominal securities helped push bond yields lower, though only temporarily.
Next week, focus could switch back to the outlook for interest rates as investors analyze policymakers' rhetoric closely at the Federal Reserve's annual Jackson Hole symposium.
The event "gives Warsh the opportunity to talk to markets, which are in need of more clarity on the central bank's plans," Arca said. "It seems as though Warsh wants the market to do the tightening for the Fed, and that's really what is happening with the recent surge in bond yields."
