Thoughts On Renominating Powell As Fed Chair

I think the market is moving back into equilibrium with Fed Chair Powell being renominated, says Larry Shover of D. Alexander Capital. It is remarkably consistent with expectations and, if anything, adds to the curve flattening pressure, he adds. Two-year bonds are underperformers at the moment, he explains. Larry gives his thoughts on the the 10-Year Treasury yield (TNX). He points out the mixed sentiment of the positive retail sales and homes under construction versus the University of Michigan sentiment at a 10-year low.