Goldman Sachs interprets Powell's "hawkish debut": the volatility of the two-year US Treasury bond is likely to soar again, and the long-end is entering a period of calm.

According to the Zhtng Financial APP, Kai Hege, global head of fixed income and liquidity solutions at Goldman Sachs Asset Management, pointed out that after Kevin Warsh chaired a policy meeting as the Fed chairman for the first time, his statements are likely to exacerbate the volatility of the short end of US Treasury bonds, but at the same time, they may also help to stabilize the price fluctuations at the long end.