The US presidential and congressional elections aren't until November 5, but the Bond Vigilantes are voting early. The 10-year US Treasury bond yield has risen a whopping 63 basis points to 4.25% since the Fed's September 17-18 meeting (chart). In exit polls, the Bond Vigilantes are saying they are voting against Fed Chair Jerome Powell's dovish monetary policy because the economy is running hot, and the Fed's premature 50bps rate cut 0n September 18 raises the risk that it will overheat.
đź’ˇ
Dear Subscribers, we apologize for the delay in releasing this week's video. Due to technical difficulties with our original recording, we’ve re-recorded this update on Friday, October 25th, covering this week’s key events. Thank you for your understanding.
