BREAKING from WH.gov
While I will readily admit SURPRISE (I thought a more politically motivated BRAINard nomination would be forthcoming), I am then NOT surprised with the bond market reflex TO the news.
5s30s back TO its flattening ways
It’s my VIEW we were NEVER going to actually GET a BRAINard led Fed as she’s NOT nearly as confirmable as JPOW (or as left-leaning political economic experts like AOC might have hoped) and so, we’re all to be somewhat better off with this announcement…