By: Russ Kamp, CEO, Ryan ALM, Inc.

Seems like yesterday’s strong bond rally has already been forgotten, as Treasury yields retrace most of yesterday’s move. As mentioned in my post yesterday, fighting a supply-side oil shock with monetary policy tools doesn’t do anything to improve the supply or delivery of this precious commodity. Tamping consumer demand through higher interest rates may eventually reduce demand for oil, but how soon? We’ll continue to monitor the Fed’s progress as rising oil prices, higher inflation, and increasing rates have potential major implications for defined benefit pension plans. Stay tuned!

Table from the WSJ at 12:05 pm