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July 18, 2005
Greenspan heads to Capitol Hill this week...
...and don't expect him to say that the rate hikes are over.
Via Bloomberg:
Greenspan will likely use his semi-annual monetary policy report to end any lingering notions the central bank is almost finished lifting its interest-rate target after nine increases since June 2004, investors said. Yields, which move inversely to debt prices, have been little changed the past two months as bondholders sought clues as to how much rates will rise.
This "could be the spark that causes 10-year yields to rise out of their range," said Colin Lundgren, who helps manage $100 billion as head of institutional fixed-income at American Express Asset Management in Minneapolis. Greenspan testifies in Washington on July 20.
We'll see. I hope C-Span carries it. So far, they don't show it on their schedule. Stay tuned.
Posted by William Polley at July 18, 2005 6:24 PM
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