Long-bond buyers aren't afraid of inflation or increased interest rates, the way short-term bond buyers are. The Fed still seems to be in the game for the foreseeable future in driving rates up. |
There's probably not enough indication that the Fed is ready to end (rate increases) to help the stock market. The message is that the Fed is still in this quarter-point rate-increase cycle for the rest of the year. |
We have to see what kind of impact the double-barrel effect of high energy and high rates have on the consumer. The Fed might have overdone it. |