What Kevin Warsh Means for Treasury Yields
EUR/USD — All Desk Targets
| Firm | Stance | YE 2026 |
|---|---|---|
Morgan Stanley | Bullish | 1.2150 |
UOB | Bullish | 1.1800 |
ING | Bullish | 1.1700 |
From the original
Less forward guidance means more volatile - and higher - long-term US Treasury yields
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4 itemsWhat Will Kevin Warsh Say?
The potential new Fed chair
The desk interprets the potential nomination of Kevin Warsh as Fed chair as a pivotal moment for U.S. monetary policy, with implications for interest rates and the Fed's balance sheet. Per the full note [source], Warsh's appointment could signal a shift towards a more hawkish stance, impacting Treasury yields and the broader FX landscape. Current market positioning suggests traders are bracing for volatility in response to this nomination, particularly in light of upcoming economic data releases. Our analysis aligns with the view that the Fed may adopt a more aggressive approach to combat inflation, which could influence USD performance against major currencies.