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Late jump in long yields after Yellen speech

Oct. 14, 2016 4:08 PM ETTLT, TLH, SPTL, EDV, TBT, TMF, TMV, TBF, ZROZ, VGLT, UBT, DLBL-OLD, DLBS, TYBS, TTT, VUSTXBy: Stephen Alpher, SA News Editor82 Comments
  • Janet Yellen's afternoon speech jolted the Treasury market out of a late-session Friday slumber, with the 10-year yield jumping five basis points to touch 1.80% for the first time since early June.
  • While not commenting on current policy, the more theoretical speech suggested the Fed ought to consider letting the economy/inflation run hotter than would otherwise be advised in order to heal the still-active wounds from the financial crisis.
  • "I didn't hear, 'We are going to tighten in December,'" Jeff Gundlach tells Reuters. "I think she is concerned about the trend of economic growth. GDP is not doing what they want."
  • Earlier: GDPNow pared its forecast of Q3 growth to just 1.9%.
  • TLT -1.4%, TBT +2.8%
  • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, VGLT, TLH, UBT, DLBS, TLO, VUSTX, DLBL, TYBS

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