Consumers Set to Chill Amid Hiring Slowdown

Last Week: Interest rates were mixed, and equities were modestly lower on the week as political turmoil and trade-related uncertainty gripped markets. The US 10-year Treasury note declined 9 basis points to 1.69%, as 1-month LIBOR rose 2 basis points to 2.03%. Oil declined $3.00 to $55.65 as most Saudi oil production came back online, […]

Repo Blowout Reveals SOFR’s Achilles Heel

Last Week: Interest rates traded lower as equities moved higher on the week as the Fed cut rates as expected but stirred up doubt as to the likelihood of future rate cuts. The yield on the US 10-year Treasury note declined 14 basis points to 1.72% and 1-month LIBOR also fell by 2 basis points […]

Rates Moving Higher: Breakout or Headfake?

Last Week: Interest rates were mixed, and equities rose on the week as crowded positioning, diminishing geopolitical and recession fears, and stronger core inflation data helped send US Treasury yields sharply higher. In a rush to the exits from the safety of Treasuries, the 10-year Treasury yield rose 33 basis points, wrapping the week just […]

Trade War to Dog Rates Through Year End

Last Week: Interest rates were mixed, and equities rose in a risk-on rally amid a slightly brighter outlook for US-China trade talks, receding risks of an imminent no-deal Brexit and hopes that tensions in Hong Kong will abate. The yield on the US 10-year Treasury note rose to 1.56% from 1.52%, while 1-month LIBOR fell […]