The bond market is finally getting in sync with Jerome Powell’s outlook for the economy. Traders have scrapped once-aggressive wagers that the Federal Reserve chief would pivot to easing policy before the end of this year, reflecting deeply diminished expectations that the central bank’s rate hikes are poised to set off a sharp recession. Bond yields have risen back toward levels seen before the panic sown by Silicon Valley Bank’s collapse. And even with policymakers seeing a chance for two more rate increases in the months ahead, the US economy is expeted to hold up fairly well, unlike Europe’s, which is showing ... (full story)