Relevant:
- Fed Chair Janet Yellen: 'Unwise' to wait too long to hike interest rates
- Treasury Curve Steepening Bet Blows Sky High
- Gold Leads, Bonds Bleed As Jobs Miss Sends Rate-Hike Odds Tumbling
- The Bond Market Is Trying to Tell Us Something (Worry)
- The Fed "Rate Hike" is a Total Fraud, Subsidy To Banks and Divorced From Market
2007-09-21 — blogspot.com
The elevator version is: to bail out banks (surprised?). The downside, of course, is that the resulting hike in long bond yields has kicked the housing market in the stomach when its down (see Kass for more).
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