NY Fed Governor William Dudley was unapologetically dovish in comments this morning about whether the U.S. economy needs more economic stimulus and the negative impact higher lending rates are having on the "momentum" of the housing market. Dudley said the two conditions needed to justify a tapering have not yet been met, adding he does not see a tapering happening until 2014.
Although Dudley's remarks should have had a much more dramatic impact on the bond market, yields have not moved much off their opening levels largely because yields already backed up significantly last week and there isn't much more downside potential.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
