The obvious point to take from this meeting is that the Fed is giving the bond market no indication they are close to being done.
More Quotes from Dominic Konstam:
They have to tread carefully, they don't need to raise rates so they become restrictive as there is no inflation, so they are fumbling for a neutral funds rate.Dominic Konstam
The path of least resistance is flattening.
Dominic Konstam
Broaddus just reminded everyone that the Fed is going to raise rates. He is clear that the inflation data has got their attention and that the Fed is much more wary of inflation.
Dominic Konstam
The inflation story embedded in this report is really not that bad. People are coming back into the labor force and wage pressures aren't showing, so this is generally good for bonds.
Dominic Konstam
Claims took people by surprise. It makes it clear the Fed has not gone too far.
Dominic Konstam
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