Fed's Yellen Says Surge in Bond Yields Hasn't Resolved Rate `Conundrum'

(Bloomberg) -- Federal Reserve Bank of San Francisco
President Janet Yellen said the recent increase in long-term bond
yields hasn't altered the so-called ``conundrum'' of low rates
compared with rates on shorter-maturity debt.

``Long-term rates have risen in recent weeks, but not by
nearly enough to resolve what former Fed Chairman Alan Greenspan
coined, `the bond rate conundrum,''' Yellen said in prepared
remarks at Brandeis University in Waltham, Massachusetts.


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