Fed to Push the Reset Button

Last Week: A mostly quiet one with a late upward drift in yields as markets mostly stood pat ahead of the Fed meeting this week. The 10-year Treasury traded higher for the week by 12 basis points to 1.8872%, while 1-month LIBOR finished lower by 23bps to .4364%. This Week: A busy calendar in the […]

Stalling the Fed

Last Week: After a week without significant drama and a drip of economic data releases that showed weak Q1 consumer spending and GDP growth, ultimately yields remained net lower and flatter. America’s economic performance in Q1 is turning out to be weaker than expected, but we’re skeptical that US economic trends have suddenly weakened substantially, […]

Turning Japanese

Last Week: Overall a quiet one, the highlights of which were a meeting of current and old Fed Chiefs and the release of  FOMC minutes that reinforced our view that officials will hold off tightening again until at least June. A corollary however, is that more tightening is likely and more than the market is […]

Jobs Engine Firing on all Cylinders

Last Week: Friday’s much anticipated March jobs report took center stage, showing stronger U.S. employment and a pick-up in wages amid lethargic global economic growth. March’s 215K gain in payrolls  – exactly what we forecasted – followed an upward revision for February to 245K while wages increased 0.3% from a month earlier. The report showed […]