- The St. Louis Fed chief is all over the place today - a TV interview, a speech, and a press conference - sounding the alarm over rate hikes, which he sees starting in Q1 of 2015. Investors and even some at the Fed are "stuck" in 2010, he says, and don't realize how close the central bank is to hitting its targets for unemployment and inflation.
- Responding to a question about why the yield curve remains below the median forecast of future rates presented by the FOMC last week: "I think investors should be listening to the committee, they are not." It seems central planners aren't pleased when markets have their own idea of what prices should be.
- Ignoring the Fed even more today, the short end of the curve is flat and yields are lower at the long end, the 10-year Treasury down 3 bps to 2.53%. TLT +0.6%
- Previously: Bullard: Forget about Q1 GDP report
- ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, DLBS, VGLT, UBT, TLO, TENZ, LBND, TYBS, DLBL