Apollo's Slok Says Warsh Silence Fuels Treasury Selloff

Torsten Slok, chief economist at Apollo Global Management, said on Bloomberg Television that Federal Reserve Chairman Kevin Warsh's decision to discontinue forward guidance on monetary policy contributed to selling pressure in Treasury bonds following the Fed's rate decision on Wednesday. Slok stated that 30-year Treasury yields rose after the announcement. The Fed's forward guidance practice had previously indicated the direction of future policy moves to financial markets.

Next story