Bond Traders Are Desperate for Direction From Yellen in Jackson Hole
- Communication falls short amid mixed messages: Pimco’s Clarida
- Yield swings diminish as investors take to sidelines
Reasons Not to Expect a Huge Policy Unveiling From Yellen
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The world’s biggest bond traders are getting fed up with Fedspeak.
Weeks of conflicting economic reports have whipsawed investors seeking to handicap the path of interest rates, and money managers overseeing about $6 trillion, including Pacific Investment Management Co. and Vanguard Group Inc., say policy makers aren’t making their task any easier.