Insight - Funds trim hawkish Fed bets as Jackson Hole looms

Centre of attraction: A file picture shows Powell (right) and New York Fed president John Williams walking together ahead of the Kansas City Federal Reserve Bank’s annual conference on monetary policy, in Jackson Hole, Wyoming, in 2019. The event will be held remotely once again this year – though it still provides Powell with an opportunity to signal a key policy shift in a keynote address. — Reuters

EVEN as the annual central bank festival at Jackson Hole approaches – all online again like so many other live events in the time of Covid-19 – hedge funds remain remarkably cool on the outlook for higher US interest rates and bond yields.

The Kansas City Federal Reserve event in Wyoming will be held remotely once again this year – though it still provides Fed chair Jerome Powell with an opportunity to signal a key policy shift in a keynote address.