US Bond Market Week in Review: Deconstructing Yellen, Edition

     Fed Chair Yellen gave a very important speech this week.  While she focused on domestic economic developments, there was also tremendous focus on international events and their potential negative impact on the US economy – a line of analysis championed by Fed President Brainard.  Yellen’s latest speech indicates a far more international approach to monetary policy may be taking hold at the Fed. 

     Let’s start with Yellen’s assessment of the US economy:

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