Apollo's Torsten Slok said the Federal Reserve’s abandonment of forward guidance is fueling historic bond market volatility, sending Treasury yields swinging “up and down like a yo-yo” https://t.co/Vz5Gemoz3n ...

Fed Chair Kevin Warsh said real and nominal yields have risen materially over the past 42 days despite limited Fed action, indicating that reduced forward guidance is working as intended. He added that higher interest rates could be part of the response if inflation remains elevated, while emphasizing that the Fed will deliver on its 2% inflation target and keep expectations anchored at that level. ...