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Warsh Forces Bond Traders to Do Their Job
Kevin Warsh is trying to change how the Fed communicates, and bond markets may have to adjust to a world with less hand-holding from the central bank.
Mike Armstrong and Marc Fandetti debate Warsh’s approach to Fed messaging, why bond traders are reacting so strongly, and whether the Fed’s long era of forward guidance has distorted price discovery in long-term interest rates. They also preview SpaceX’s first earnings report as a public company, why Elon Musk’s ability to sell the future may matter more than the numbers, and what AMD earnings could reveal about the AI chip trade. Plus, they…
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