"That's enough confusion to cause those of us who have to analyze the beast a great deal of heartburn and sleepless nights Higher rates will slow the economy down a bit, but that is exactly what the Fed wants and something investors should welcome. Unfortunately, the negative side of our split personality market says the opposite."
The heightened inflation fears also roiled the bond market. The yield on the 10-year US Treasury bond jumped to 4.788 percent from 4.766 percent a week earlier and that on the 30-year bond to 5.503 percent from 5.464 percent. Bond yields and prices move in opposite directions.
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