Fed Independence Concerns Drop to 65% After Powell's Departure, Long-End Yields Expected at 5% by Year-End

According to Bloomberg's latest Markets Pulse survey, 65% of 101 respondents expressed lower concerns about Federal Reserve independence compared to 48% in May, reflecting a significant shift in market sentiment. The survey also indicated that 30-year U.S. Treasury yields are most likely to reach or exceed 5% by year-end, suggesting some market doubt about whether the Fed will take sufficiently swift action to curb the recent inflation surge.
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