Premium"Implications For Risk Are Not Supportive": Goldman's One-Delta Desk On Warsh & Fed Cred
The real story yesterday wasn’t the decision but the press conference, according to Goldman Sachs one-delta desk-head, Rich Privorotsky.
The FOMC held rates unchanged, but the long end became somewhat unhinged, with 30yr yields pushing to new highs and the curve undergoing a sharp steepening.