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MNI BRIEF:Markets Are Still Resilient To Fed Rate Hikes-Barkin

(MNI) WASHINGTON
(MNI)

Richmond Fed President wants positive real rates.

Richmond Fed President Tom Barkin on Friday said he hasn't seen any reason to slow interest-rate hikes or QT due to disorderly markets and he wants to see positive real interest rates, standing firm with FOMC colleagues about the need to curb inflation.

The Treasury market "is not the most liquid it has ever been," he said, but it "does appear to be functioning." The situation in markets is "worth keeping an eye on" he said. "With leverage you never know where it is until it shows up," he added. U.S. two-year Treasury yields have jumped to 4.17% Friday, around the highest since mid-2007, from about 2.5% six months ago, as investors see the Fed sending policy rates even higher.

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Richmond Fed President Tom Barkin on Friday said he hasn't seen any reason to slow interest-rate hikes or QT due to disorderly markets and he wants to see positive real interest rates, standing firm with FOMC colleagues about the need to curb inflation.

The Treasury market "is not the most liquid it has ever been," he said, but it "does appear to be functioning." The situation in markets is "worth keeping an eye on" he said. "With leverage you never know where it is until it shows up," he added. U.S. two-year Treasury yields have jumped to 4.17% Friday, around the highest since mid-2007, from about 2.5% six months ago, as investors see the Fed sending policy rates even higher.

Keep reading...Show less