ICYMI:WSJ Fed insider says higher bond yields are likely to result in extended FOMC pause

<p>The Tuesday news from the US featured this:</p><ul><li><a href="https://www.forexlive.com/centralbank/timiraos-higher-long-end-yields-likely-to-extend-fed-pause-20231010/" target="_self">Timiraos: Higher long-end yields likely to extend Fed pause</a></li></ul><p>In which WSJ Fed whisperer Nick Timiraos said that the run-up in long-term interest rates might substitute for a further central bank rate hike:</p><ul><li>A sustained rise in long-term Treasury yields could be bringing the Federal Reserve’s historic rate hiking cycle to an anticlimactic end.</li></ul><p>I'm not sure how you can call the ructions in the bond market anticlimactic but there you go. </p><p>San Fran Fed head Daly repeated that a few hours after:</p><p><a href="https://www.forexlive.com/centralbank/feds-daly-says-we-have-more-work-to-do-inflation-is-still-high-20231010/" target="_blank" rel="follow" data-article-link="true">Fed's Daly says we have more work to do, inflation is still high</a></p><ul><li>If bond yields are tight, that could be the equivalent of another rate hike</li></ul><p>FOMC done?</p>

This article was written by Eamonn Sheridan at www.forexlive.com.