US Treasury yields steady before Kevin Warsh speech 30-year 5.21%
Business
US Treasury yields barely budged on Friday, with everyone waiting to hear what Kevin Warsh will say at the Jackson Hole event.
The 30-year yield ticked up to 5.21%, still high after last week's jump past 5.3%, a level not seen since 2007.
Fed hike odds exceed 70%
Warsh's talk could shake up foreign exchange, gold, and bond markets, especially after hotter-than-expected US inflation data this week.
Now, there's over a 70% chance of another Fed rate hike by December. Kansas City Fed President Jeffrey Schmid even said rates might not be high enough yet to cool inflation.
Still, analysts think stocks probably won't move much (Historically, the S&P 500 barely reacts after Jackson Hole).