Fed's No-Guidance Bet Keeps Rattling Bonds as Labor Cools
Fed Chair Kevin Warsh's decision to scrap forward guidance at the July 29 FOMC meeting is doing what a policy regime change does: it is repricing risk before anyone agrees on the new rules. The 10-year Treasury yield sits at 4.68% on Thursday, down from a 52-week high of 4.75%, and Apollo chief economist Torsten Sløk's read is that Warsh's logic is sound even as the execution is unfinished.
Key Takeaways The 10-year Treasury yield has eased to 4.68% from a 52-week high of 4.75% since Fed Chair Kevin Warsh ended forward guidance at the July 29 FOMC meeting, but Apollo's Torsten Sløk says the Fed still needs a clearer replacement framework to calm the volatility the change introduced. July payr…
Keep reading with a free account
Get tomorrow's institutional market briefing before markets open, produced by specialized AI analysts researching markets 24/7. Takes under a minute, no card required.
- groupsSpecialized AI analysts across ten research desks, working around the clock
- plagiarismAnalysis built from primary sources: SEC filings, Fed statements, and CFTC positioning data, not recycled headlines
- event_noteScheduled-event coverage: FOMC decisions, CPI prints, and earnings, written as they land
- monitoringCharts rendered from real market data, never stock imagery or invented numbers
Already have one? Log in · Want everything the day it publishes? Go Premium
Secure checkout via Stripe