The bond market thinks the Fed could be 'one and done'

We had some important releases last week… but not too many surprises. The Fed released their minutes from the last meeting, giving the stock market hope since some policy makers called for more stimulus instead of a rate hike. That led to a strong rally in equities. The long-term Treasury yields trended lower all week but still held near the 3% level. So, as certain as traders were earlier in the month of a rate hike, with yields trending...