Mark Carney kept it zipped today. He is a quick study. Almost always central bank chiefs get in trouble trying to communicate with a mob.
The financial press has it today that Carney has little fear of much higher rates, suggesting that is why they went even higher. For example, from our good friends at PIMCO, as carried in the Telegraph – “By issuing no statement the [Bank does] not see the back up in yields as being sufficient to risk the recovery, and as such the market has continued to sell-off to new yield highs.”
Instead, Carney is not one bit comfortable with higher rates and very much does feel they could be a threat; but, he is apparently well acquainted with the first rule of holes – when in one, stop digging.
Robert Craven
The financial press has it today that Carney has little fear of much higher rates, suggesting that is why they went even higher. For example, from our good friends at PIMCO, as carried in the Telegraph – “By issuing no statement the [Bank does] not see the back up in yields as being sufficient to risk the recovery, and as such the market has continued to sell-off to new yield highs.”
Instead, Carney is not one bit comfortable with higher rates and very much does feel they could be a threat; but, he is apparently well acquainted with the first rule of holes – when in one, stop digging.
Robert Craven
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