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Renewed Selling As Powell Presser Gets Underway

US TSY FUTURES
Tsys back to midmorning lows as Chairman Powell discusses inflation metrics:
  • "We are highly attentive to the risk that high inflation poses to both sides of our mandate, and we are strongly committed to restoring price stability. Against the backdrop of the rapidly evolving economic environment, our policy has been adapting and it will continue to do so."
  • "The surge in prices of crude oil and other commodities that resulted from Russia's invasion of Ukraine is creating additional upward pressure on inflation. COVID related look downs in China are likely to exacerbate supply chain disruptions further as well."
  • 30YY tops 3.0524%

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