February 9, 2007 / 4:14 PM / 12 years ago

Bond Watch: Another Fedster Resigns

Fed Gov Bies will resign as of Mar 30. Govs are perpetual FOMC voters, & has not dissented since her appointment in late 01. She will not attend the Mar FOMC gathering & therefore not vote, but as her position has been “yes woman,” this will not alter the outcome, the Fed will remain on hold. (Bloomberg) The move will not move treasuries with the 10-yr sitting lower at -06/32nds, yielding 4.758%.

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