Or far longer than many wanted, deserved, or needed. In an interview, President Obama essentially stated that Bernanke is leaving the Fed when his term is up next year. The headline should read that Bernanke does not want to be at the helm when the assured volatility to economy comes to pass.
(Update)
With the above in mind, I thought the piece written by GS' Jim O'Neill for Bloomberg on June 11 carries some water. The piece reads....
A return to normality eventually implies a benchmark 10-year Treasury yield of 4 percent or more. It won’t happen all at once, but that’s where we’re heading. With yields at roughly 2.2 percent, there’s a long way to go. This transition will mark a recovery of the equity culture and the cooling of investors’ protracted love affair with bonds.
Because of this prospect, markets are sensitive to the merest whiff that Fed Chairman Ben S. Bernanke might be forced by colleagues on the Federal Open Market Committee to reduce the scale of quantitative easing. This nervousness has affected asset prices across the maturity spectrum, not just at the short end of the money market as you might expect.
Do you think Bernanke is trying to be opportunistic?
(Update)
With the above in mind, I thought the piece written by GS' Jim O'Neill for Bloomberg on June 11 carries some water. The piece reads....
A return to normality eventually implies a benchmark 10-year Treasury yield of 4 percent or more. It won’t happen all at once, but that’s where we’re heading. With yields at roughly 2.2 percent, there’s a long way to go. This transition will mark a recovery of the equity culture and the cooling of investors’ protracted love affair with bonds.
Because of this prospect, markets are sensitive to the merest whiff that Fed Chairman Ben S. Bernanke might be forced by colleagues on the Federal Open Market Committee to reduce the scale of quantitative easing. This nervousness has affected asset prices across the maturity spectrum, not just at the short end of the money market as you might expect.
Do you think Bernanke is trying to be opportunistic?
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