CITIGROUP strategist Jason Williams said in a note the U.S. Treasury market is seeing a mild buyers' wait‑and‑see. He said strong PMI data published last Wednesday exacerbated the dynamic and last week's hawkish Fed comments may keep buyers sidelined. Williams added: “Persistent hawkish rhetoric makes us wonder: if the dot‑plot median implies one more rate hike, why didn't the SEP dot plot appear more hawkish?”

2026-09-28

CITIGROUP strategist Jason Williams said in a note the U.S. Treasury market is seeing a mild buyers' wait‑and‑see. He said strong PMI data published last Wednesday exacerbated the dynamic and last week's hawkish Fed comments may keep buyers sidelined. Williams added: “Persistent hawkish rhetoric makes us wonder: if the dot‑plot median implies one more rate hike, why didn't the SEP dot plot appear more hawkish?”