Fed Minutes Show 9-3 Split as Treasury Steps In
The Federal Reserve's July minutes exposed a committee split nearly wide enough to matter, and long-end Treasury yields did the market's talking before the Fed's words even landed. Minutes released Wednesday from the July 28-29 meeting showed a 9-3 vote to hold, with "several" officials open to a hike and "many" arguing financial conditions remain too loose to pull inflation back to 2%. That reveal arrived a day after the 30-year Treasury yield touched 5.34% intraday, its highest level since 2007, then reversed once the Treasury Department doubled long-bond buyback sizes to at least $4 billion per operation.
Key Takeaways FOMC minutes from the July 28-29 meeting showed a 9-3 hold vote, the mo…
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