Policy Hub: Macroblog provides concise commentary and analysis on economic topics including monetary policy, macroeconomic developments, inflation, labor economics, and financial issues for a broad audience.
Authors for Policy Hub: Macroblog are Dave Altig, John Robertson, and other Atlanta Fed economists and researchers.
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... as a result of yesterday's FOMC policy announcement? This, from today's Wall Street Journal "Credit Markets" column (page C6), seems like a pretty reasonable explanation:
"The [Fed's] downgrading of inflation risk was bullish for longer-dated Treasurys," which are highly sensitive to the risk posed by inflation, said Richard Gilhooley, senior bond-market strategist at BNP Paribus.
At least I can't think of a better explanation. Let's see if it holds.
