- Sticking to what we mostly already know about Fed thinking, Janet Yellen - in prepared remarks before the Senate Banking Committee - says interest rates could rise sooner and at a faster pace if labor market strength continues to surprise to the upside. The opposite, she quickly notes, is also true - should data disappoint, policy would be more accommodative than currently anticipated.
- Treasurys are zigging and zagging on her remarks, but about flat, and the S&P 500 and Dow remain little-changed. Small caps (IWM -0.7%) and momentum sectors like social media (SOCL -1.1%) and biotech (IBB -1.1%) are selling off as the Fed boss says their valuations "appear to be stretched."
- The Q&A is underway; live blog and video here.
Yellen warns on small cap and momo sector valuations
From other sites
at Nasdaq.com (Apr 8, 2015)
at CNBC.com (Mar 20, 2015)
at MarketWatch.com (Jan 13, 2015)
at Nasdaq.com (Jan 13, 2015)
at Nasdaq.com (Jan 5, 2015)
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