Treasury Action: yields dipped slightly
Treasury Action: yields dipped slightly on reports the president again "complained" about his Fed chairman Powell. However, it's difficult to discern the context from the report and it's not a new posture from Trump who noted that sentiment in an interview a few weeks ago. Of more importance will be what Chairman Powell says at Friday's speech from Jackson Hole. There's been talk he'll suggest some concern over emerging markets and trade issues, in terms of slowing growth, and that he might indicate some change in the pace of the QE unwind. Analysts suspect Treasury yields will remain biased lower, but will await that development before making a beeline below key supports. The 10-year continues to hover over 2.80% level, with the bond either side of 3.0%, while the 2-year is trading narrowly around 2.60%.