Helter-Skelter in Bonds as Markets Doubt Fed Cuts: John Authers

To get John Authers’ newsletter delivered directly to your inbox, sign up here.

Today’s Points:

• Here we go again: The 10-year Treasury yield is back above its 200-day moving average.
• Blame Jay Powell: The market’s no longer sure he’ll cut in each of the next three FOMC meetings.
• Or blame Trump: His market odds keep improving, and traders think he would be bad for bonds.
• Either way, note that Trump’s presidency was great for wind power stocks, and Biden’s has been good for coal.
• AND: Crazy about Franz Liszt on his birthday.

Helter-Skelter

If you thought ...