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Powell says three factors are behind the bond yield spike
US Federal Reserve chief Jerome Powell explains why longer-term bond yields are rising, including views of a resilient economy and fiscal deficit concerns.
Matthew CranstonUnited States correspondentWashington | Everyone in financial markets seems to have a different explanation for why US bond yields have reached their highest level in 16 years. Thankfully, the world’s most powerful central banker has distilled it down to just three.
Speaking to the Economic Club of New York, US Federal Reserve chairman Jerome Powell started with what was not causing higher yields that translate to rising borrowing costs for business, government and households.
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