There were rumours swirling about the markets on Friday about an article from ‘Fed mouthpiece’ Jon Hilsenrath, in which he would allay bond market fears.

Well, the article is out, but there isn’t much in it for the bond markets, its about the manoeuvrings for the next appointment as Fed chair. The article is in the Wall Street Journal and may be gated:

Test for Federal Reserve’s Next Chief: Quelling Dissent

An already divided Fed could become more fractious when Mr. Bernanke departs, with important implications for the central bank, markets and the economy.