Why the bond market is doubting Fed chairman Warsh

> State of play: The market reaction was swift and clear. Traders cut back on their bets that a rate hike is on the way in September, now seeing it as a coin flip.

> Longer-term bond yields soared, with 30-year Treasuries reaching 5.21% on Thursday morning, the highest since 2007.

That doesn't make sense to me. Treasury yields are basically a projection of future interest rates. If Treasuries were sold off and their yields rose, that would mean the market actually expects interest rate hikes.

Actually he said, we will leet the markets determine prices. What does that mean? That's not a policy. He's basically ssaying he'll let the markets crash who cares? Also Trump's war.