Rumors started to swirl concerning the nomination for the next Federal Reserve Chairperson a little over a week ago.* Would President Biden nominate the current Fed Chair Jerome Powell for another term, or would he go to the more dovish Democrat Lael Brainard? S10Y  10YR Treasury Yield Index Source: dxFeed Index Services (https://indexit.dxfeed.com) Interest rate markets, which the Fed has significant influence over, were likely expecting another term for Powell given that Treasury yields fell several basis points following even the mention of Brainard in the interview process. Though further developments in this story will be important for the future of the US economy at large, most traders were seeking the answer to just one question as the news broke: Are … [Read More...]