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October 19, 2010

CNN Money: Kenneth Naehu Quoted in “Bond Traders Retreat to Sidelines”

“Bond Traders Retreat to Sidelines,” by Annalyn Censky, CNN Money.

Anticipating that a large government purchase would push Treasury yields down, investors have been trying to front-run the government’s trade — leading to a recent surge in bonds, said Kenneth Naehu, managing director and head of fixed income at Bel Air Investment Advisors.

But without any big buys from the government on Tuesday, Naehu said traders are waiting for other hints as to what Fed officials could decide at their next meeting in November.

The Fed bought $6.3 billion in Treasuries Monday and $4.7 billion last week, but didn’t announce any purchases on Tuesday.”

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