FOMC Minutes Preview and Jackson Hole Thoughts: The MUFG Global Markets Podcast

George Goncalves, MUFG Head of U.S. Macro Strategy, discusses the false breakout in yields into the Treasury auctions last week, characterizing them as just another supply concession setup. Given that the rates market failed to continue its rise up in rates, George remains neutral until we hear from the Fed.

 

In terms of the Fed, George goes over what to potentially expect from two key events ahead. First off are the minutes from the July FOMC meeting, where everyone will be combing through to see if there are any specifics as related to taper updates. And then towards the end of August markets will hone in on any new monetary policy developments and updates at the annual Jackson Hole Symposium. With recent Fed speakers increasingly sounding hawkish (as if trying to talk up rates) these events will drive markets.

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