Treasury Action: bear flatteners are the play now it seems, in the wake of Bullard’s comments on the heels of this week’s hawkish shift in the FOMC, while US Dollar rallied and the bonds and stocks markets are reacting bearishly as well. Bullard outlined his opinions on the state of policy and the hawkish shift at this week’s meeting. He is a voter next year, but his relatively more hawkish stance is not a surprise.
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Stuart Cowell
Head Market Analyst
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