Fed's Powell not complacent about Oct 15 mini crash in bonds

WASHINGTON (MarketWatch) - Many bond-market experts are complacent about the mini-flash crash in the bond market from Oct. 15, 2014, but Federal Reserve Governor Jerome Powell said Friday that he is not one of them. "It isn't satisfying to me to say the market worked as it was intended to," Powell said in a speech at the start of a roundtable discussion on Treasury markets and debt management held at the New York Fed. He said the events of Oct. 15 - when yields momentarily plunged by 30 basis points - were unusual in both the size and speed of the move and also by the lack of a fundamental......(read more)

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