Moderate Losses For Bonds as Powell Says Fed Isn't in a Hurry to Cut

Moderate Losses For Bonds as Powell Stays "Hawkish"

In the lexicon of market watching, the Fed is considered to be dovish when they're saying things that are generally friendly for rates.  When the opposite is the case, the term is "hawkish."  Relative to expectations, the market felt Powell was hawkish at the press conference 2 weeks ago.  Because of that, and because of the bond losses that followed, there was some false hope for a dovish counterbalancing act today.  It wouldn't exactly be fair to say Powell was hawkish, but he certainly wasn't feeling compelled to throw the bond market a bone.  The comment earning the most focus was essentially a reminder that the Fed is not in a hurry to cut rates and will be guided by data.  This isn't really anything new, but bonds were modestly disappointed nonetheless.