US Treasury curve move sends 2 messages

Today’s 2s-10s (~7 bps) and 2s-30s (~10 bps) yield curve flattening (Bloomberg charts below) would suggest a double message from fixed income markets: Short-term hawkish repricing following Chair Warsh’s firm commitment to the inflation target. An endorsement of longer-term Fed credibility. #economy #markets #federalreserve — via @elerianm

Hawkish Warsh repricing and 7-10 bps curve flattening signal dual fixed-income message.