Federal Reserve Chair Kevin Warsh is set to deliver his first Jackson Hole keynote on Aug. 28 at 10:00 a.m. ET, with investors watching closely for clues on inflation, interest rates and the Fed's approach to the bond market.
Markets currently lean toward no rate change at the Fed's September meeting. Prediction market Kalshi gives a 70% probability of rates remaining unchanged, compared with a 30% chance of a 25-basis-point hike and just 1% for a cut.
Warsh's remarks also come after Treasury Secretary Scott Bessent announced on Aug. 19 that the Treasury would double its longer-dated bond buybacks from $2 billion to at least $4 billion per operation beginning Sept. 9. Investors are looking for indications of whether the Fed could eventually support efforts to contain long-term yields.
That question matters for Bitcoin because expectations of lower yields and easier financial conditions can increase demand for risk ***** ets. Bitcoin has climbed from around $64,000 last week to nearly $80,000 ahead of the speech.
Sygnum CIO Fabian Dori said the rally was not driven by crypto alone, pointing to the U.S. Treasury's decision to double its long-dated bond buybacks, which temporarily pushed yields lower and lifted risk ***** ets, including Bitcoin, gold and silver.
#bond #double
Markets currently lean toward no rate change at the Fed's September meeting. Prediction market Kalshi gives a 70% probability of rates remaining unchanged, compared with a 30% chance of a 25-basis-point hike and just 1% for a cut.
Warsh's remarks also come after Treasury Secretary Scott Bessent announced on Aug. 19 that the Treasury would double its longer-dated bond buybacks from $2 billion to at least $4 billion per operation beginning Sept. 9. Investors are looking for indications of whether the Fed could eventually support efforts to contain long-term yields.
That question matters for Bitcoin because expectations of lower yields and easier financial conditions can increase demand for risk ***** ets. Bitcoin has climbed from around $64,000 last week to nearly $80,000 ahead of the speech.
Sygnum CIO Fabian Dori said the rally was not driven by crypto alone, pointing to the U.S. Treasury's decision to double its long-dated bond buybacks, which temporarily pushed yields lower and lifted risk ***** ets, including Bitcoin, gold and silver.
#bond #double
2 months ago
