Siegel Says Warsh Could Spark Rally Friday by Revealing Fed Data as 10-Year Yield Falls to 4.7%
Updated
Updated · Business Insider · Aug 24
Siegel Says Warsh Could Spark Rally Friday by Revealing Fed Data as 10-Year Yield Falls to 4.7%
1 articles · Updated · Business Insider · Aug 24
Summary
Friday’s Jackson Hole speech could lift stocks if Fed Chair Kevin Warsh spells out the specific data the Fed uses to set policy, Jeremy Siegel said Monday.
Siegel said markets want clarity on indicators such as five-year inflation expectations and Fed funds futures, while warning a vague speech could trigger another market test.
Treasury support for the bond market helped ease pressure Monday, with the 10-year yield down 3 basis points to 4.7% and the 30-year yield down 4 basis points to 5.2%.
Siegel’s tone marks a shift from July, when he warned rising real yields could threaten stocks; he now also expects this week’s PCE inflation report to be relatively benign.
Investors will also watch for signs Warsh and Treasury Secretary Scott Bessent have coordinated on recent bond-market interventions, linking Jackson Hole to broader policy credibility.