Bit. This is what happened here. The 2year treasury yield topping 5 after fed chair jay powell made his first comment after the hotter than expected data. We said its moving sustainably toward 2 before proemtsly easing policy. The recent data have clearly not given us greater confidence and instead indicate that its likely to take longer than expected to achieve that confidence. Powell echoed recent statements by other fed officials indicating the current policy level will likely stay in place until inflation gets closer to its target. And so effectively, andrew, hes saying the data has been coming in increasingly hot. Weve been trending toward it. Now the question for the markets is will we have to establish a new trend and is the bar even higher to start cutting rates. Weve seen banks push out in september, which is 68 at this point. Some have said maybe none in 2024. Maybe its 2025. Can you believe were at 7 . Thats always crazy. I dont think the street should have ever been at 7 or
Open lower by 37 points. Nasdaq lower by 2. Goldman sachs holding a technology and Energy Conference today. Yahoo ceo and twitter ceo are expected to give keynote speeches later on today. In other media news nbc news announcing it is suspending Brian Williams for six months without pay effective immediately. He personally admitted he misrepresented events about coming under fire while flying in an helicopter during the iraq war. While on nbc news friday january 30th 2015 brian amissmisrepresented events that happened during the iraq war in 2013. Then it became clear that brian had done the same while telling that story in other venues. She added this was a very hard decision. Certainly there will be those that disagree but we believe this suspension is appropriate and proportionate action. Brian has jeopardized the trust millions of americans place in nbc news. His actions are inexcusable and this suspension is severe and appropriate. appropriate. He says williams deserves a Second Cha