BlockBeats messages. On August 24, Mitsubishi UFJ strategist Derek Halpenny said in a report that the US dollar faces downside risk ahead of remarks by US Treasury Secretary Bessent and the Federal Reserve Jackson Hole symposium.
After the US Treasury announced last week that it would increase the scale of long-term bond repurchases, Bessent may later release information about a fiscal consolidation plan. Federal Reserve Chair Waller is scheduled to deliver remarks on Friday at Jackson Hole.
Halpenny said that Waller may continue to release fewer signals about future policy: “If credible fiscal consolidation measures are still not announced at that time, the long end of the bond market could be hit especially hard.”
After the US Treasury announced last week that it would increase the scale of long-term bond repurchases, Bessent may later release information about a fiscal consolidation plan. Federal Reserve Chair Waller is scheduled to deliver remarks on Friday at Jackson Hole.
Halpenny said that Waller may continue to release fewer signals about future policy: “If credible fiscal consolidation measures are still not announced at that time, the long end of the bond market could be hit especially hard.”