
By Michael S. Derby
NEW YORK, Sept 4 (Reuters) - Federal Reserve Bank of New York President John Williams said Thursday the bond market is functioning normally and is being driven by economic data developments.
“The bond market is relatively calm” at the moment, Williams said at an event held by the Economic Club of New York. “I think that there’s nothing here that’s acting that abnormally” and markets are being driven by “the fundamentals around what’s going on in the economy, what’s going on in fiscal policy around the world.”