- It's not too much of a surprise given his status as the leading hawk mouthpiece at the Fed, but putting a number on things sort of makes it news. St. Louis Fed boss Jim Bullard - speaking to Fox Business - says the Fed needs to get ahead of the inflation curve with a rate hike in September, and he puts the odds of such a move at greater than 50%.
- Bullard is not a voter on the FOMC this year.
- His comments look to have rattled the long end a bit, with the 10-year yield jumping four basis points to 2.39%. TLT -0.5%, TBT +1%.
- Fed Funds futures aren't pricing in a 25 basis point rate hike until December