A quick note about the bond market

I don't have a daily post for you today. So, in lieu of a daily, I wanted to make some more general comments about interest rates that I have been making in my market commentary pieces.
The accelerated hike timetable
In February, I wrote a post saying, "The march higher in US interest rates will continue". And the thrust of that piece was that the market meltdown we were seeing then was an outgrowth of the market's coming to terms with a more hawkish Fed. Powell was prepared to raise interest rates more aggressively than Yellen had done - and not necessarily because he was more hawkish. We were simply at a later stage in the economy and the pace of rate hikes increases as a result. Yellen might have done the same, had she been given another term by Trump.

I add the comment about Yellen be...

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