BlockBeats News, December 11th, in a report, Sanders, head of the fixed income department of Madison Investment Company, said that the ongoing steepening of the U.S. yield curve highlighted a key point: the limited impact of monetary policy on the market.Sanders stated: "Policy changes can have a significant impact on the front end (of the yield curve), but longer-term structural issues, including inflation above target and a massive fiscal deficit, will continue to put pressure on the back end." He said that Fed Chairman Powell's acknowledgment of softness in the labor market quickly triggered bond buying, reversing the initial selling pressure on U.S. Treasuries and causing the yield curve to steepen. Madison expects that from now on, the Fed's further easing pace will slow down, with the Fed expected to keep rates unchanged until the second quarter of 2026. (FXStreet)