Iran War Not an Inflation 'Speed Bump,' JPMorgan's Michele Warns

The Federal Reserve left interest rates unchanged, a decision that surprised market participants. Bob Michele, JPMorgan Asset Management's global head of fixed income, said he was "gobsmacked" by the move, signaling potential repositioning and increased volatility in fixed-income markets as investors reassess the expected path of rates.

Analysis

The Federal Reserve left interest rates unchanged, a decision that surprised market participants. Bob Michele, JPMorgan Asset Management's global head of fixed income, said he was "gobsmacked" by the move, signaling potential repositioning and increased volatility in fixed-income markets as investors reassess the expected path of rates.