TechFlow, Dec 11 — According to Jinshi Data, Sanders, head of fixed income at Madison Investment Company, said in a report that the continued steepening of the U.S. yield curve highlights a key point: monetary policy has limitations in influencing the market. Sanders stated, "Policy changes can have a significant impact on the front end (of the yield curve), but longer-term structural issues, including inflation above target and large fiscal deficits, will continue to pressure the back end." He noted that Chairman Powell's acknowledgment of weakening labor market conditions quickly triggered bond buying, reversing the initial sell-off in U.S. Treasuries and leading to a steeper yield curve. Madison expects the Federal Reserve's pace of further easing to slow from now on, projecting that the Fed will hold interest rates steady through the second quarter of 2026.
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