(USTs MIXED, curve flatter on avg volumes) while WE slept; the elephant in the room; "...liquidity is poor and expectations for yield swings remain elevated..."
(USTs MIXED, curve flatter on avg volumes) while WE slept; the elephant in the room; "...liquidity is poor and expectations for yield swings remain elevated..."
thebondbeat.substack.com
Good morning … The FOMC was, in my view (which again, I’ll remind you was not asked for and not likely what you signed up for), was quite clear. Employment remains OK to good and inflation, while coming in a bit, still requires some work to be done. THIS, again in my view, means lower asset prices (ie stock AND bonds) and at some point … sets up a bullish steepening of yield curves (pick one, I discuss a couple below).
(USTs MIXED, curve flatter on avg volumes) while WE slept; the elephant in the room; "...liquidity is poor and expectations for yield swings remain elevated..."
(USTs MIXED, curve flatter on avg volumes…
(USTs MIXED, curve flatter on avg volumes) while WE slept; the elephant in the room; "...liquidity is poor and expectations for yield swings remain elevated..."
Good morning … The FOMC was, in my view (which again, I’ll remind you was not asked for and not likely what you signed up for), was quite clear. Employment remains OK to good and inflation, while coming in a bit, still requires some work to be done. THIS, again in my view, means lower asset prices (ie stock AND bonds) and at some point … sets up a bullish steepening of yield curves (pick one, I discuss a couple below).