Business & Finance
DoubleLine’s Shinoda: I Think the 10-Year Goes Higher
Key Points
Ken Shinoda of DoubleLine Capital said the Fed’s unanimous rate hike was largely in line with market expectations, noting that traders had already priced in a better-than-90% chance of a move. He pointed to the reaction in Treasuries as evidence that the market believes more tightening may still be needed, with the 10-year yield slightly higher on the day and the long bond giving back some of its initial rally. He speaks with Romaine Bostick on "The Close."
Ken Shinoda of DoubleLine Capital said the Fed’s unanimous rate hike was largely in line with market expectations, noting that traders had already priced in a better-than-90% chance of a move. He pointed to the reaction in Treasuries as evidence that the market believes more tightening may still be needed, with the 10-year yield slightly higher on the day and the long bond giving back some of its initial rally. He speaks with Romaine Bostick on "The Close." (Source: Bloomberg)