The end of the Fed’s zero interest rate policy period is upon us, with ‘liftoff’ scheduled for next week. Treasury yields have been steady over the past few weeks, ie since they jumped 30 bps as the inevitability of the first rate hike in seven years became apparent. So will next week’s announcement be a ‘non-event’ with little or no volatility in Treasuries? Most of the ‘action’ will be in the statement and Yellen’s press conference as investors watch for clues regarding the pace of future increases …stay tuned…. David R. Pascale, Jr.
