Leadership
Summer '25 Leadership Series
2025 Summer Leadership Series – Alternatives and Discipline Emerge as Keys in Volatile Markets
Our Connect Money Summer Leadership Series highlighted a clear consensus: in today’s structurally...Read more
2025 Summer Leadership Series – Proactive Hedging in a Volatile Rates Environment
In the fourteenth and final edition of Connect Money’s 2025 Leadership Series, market experts sha...Read more
2025 Summer Leadership Series – Debt Risks, Market Shifts, and the Confidence Factor
In the thirteenth edition of Connect Money’s 2025 Leadership Series, top industry voices weigh in...Read more
2025 Summer Leadership Series – Industry Leaders Weigh Fed Surprises and Market Froth
In the twelfth installment of Connect Money’s 2025 Leadership Series, top executives offered cand...Read more
2025 Summer Leadership Series – How Tariffs and Treasury Volatility Are Shaping Investment Strategy
In the eleventh installment of Connect Money’s 2025 Leadership Series, senior executives from acr...Read more
2025 Summer Leadership Series – Experts Share Outlook, Risks, and Opportunities
In the tenth installment of Connect Money’s 2025 Leadership Series, a group of industry leaders s...Read more
2025 Summer Leadership Series – Global Leadership, Market Risks, and Narratives That Could Flip
In the ninth installment of Connect Money’s 2025 Leadership Series, industry leaders explore whet...Read more
2025 Summer Leadership Series – Global Policy Divergence, Debt Risks Take Center Stage
In the eighth installment of Connect Money’s 2025 Leadership Series, industry leaders tackle some...Read more
2025 Summer Leadership Series – Treasury Volatility and Fed Uncertainty Define Market Outlook
In the seventh installment of Connect Money’s 2025 Leadership Series, industry experts weighed ho...Read more
2025 Summer Leadership Series – Experts Tackle Volatility and Trade Policy
In the sixth installment of Connect Money’s 2025 Leadership Series, industry experts shared their...Read more
2025 Summer Leadership Series – Key Investment Narratives for 2025–2026
In the fifth installment of Connect Money’s 2025 Leadership Series, industry leaders examined key...Read more
2025 Summer Leadership Series – Experts Debate U.S. Debt Sustainability and Market Leadership
In the fourth installment of Connect Money’s 2025 Leadership Series, experts tackled one of the m...Read more
2025 Summer Leadership Series – Global Monetary Policy Divergence Reshapes Allocation Strategies
In the third installment of Connect Money’s 2025 Leadership Series, investment leaders share how ...Read more
2025 Summer Leadership Series – Navigating Financing Strategies Amid Interest Rate Volatility
In the second installment of Connect Money’s 2025 Leadership Series, executives share their persp...Read more
2025 Summer Leadership Series – Market Volatility and Tariffs Implications
This summer, Connect Money is turning to the voices of respected industry leaders to assess what li...Read moreTreasury & Rates
A weekly look at U.S. Treasury yields
Rate Volatility Looks Mismatched to the Fed and Macro Risks Ahead
US interest rate volatility is sitting near multi‑year lows even as policy and macro risks accumu...Read more
Bond Return Forecasting Enters New Era of Complexity
Developing forward-looking return expectations for bonds has traditionally been one of the more str...Read more
Bond Market’s “Soft Landing” Trade Looks Stretched as Long-End Yields Defy Inflation Math
The U.S. Secured Overnight Financing Rate (SOFR) curve is sending conflicting messages about the pa...Read more
AI’s Capital Crunch Hits the Bond Market
Equity markets may be soaring amid AI optimism, but the bond market is flashing early warning signs...Read more
Is the Bond Market Ignoring America’s Debt Time Bomb?
The U.S. government’s mounting debt burden is no longer up for debate — it’s the trajectory t...Read more
Fed to Halt Balance Sheet Shrinkage as Market Liquidity Tightens
The Federal Reserve announced at its meeting last week that it will halt the runoff of its balance ...Read more
U.S. Long-End Yields Diverge as Market Bets on Easing Supply Pressure
A key narrative that has shaped the U.S. fixed income markets over the past week centers on the un...Read more
HYG’s Alarming Break: A Silent Storm Brewing in Credit Markets
The U.S. credit market just flashed a warning that many equity investors are still ignoring. The iS...Read more
A Recession Could Turn Treasury Bulls into Bears as Fiscal Risk, Inflation Expectations Loom
A recession typically spells relief for bond investors—yields fall as inflation cools and central...Read more
Treasury’s Short-Term Debt Strategy Raises New Liquidity and Cost Risks
There has been a growing reliance on short-term bills to finance record levels of issuance by the U...Read more
Corporate Bonds Outpace Broader Fixed Income as Curve Dynamics Favor Credit
In a year marked by volatility across global fixed-income markets, corporate bonds have emerged as ...Read more
Front End Anchored, Long End Holds Swing Vote
Until or unless we get a meaningful inflation hiccup, the front end should remain tightly tethered ...Read more
Yields Likely to Dip Further Before Rising Again as Inflation Risks Reassert
Following weeks of weak labor market data, the Federal Reserve delivered a widely expected quarter-...Read more
Global Long-End Yields Surge as Fiscal Risks Drive Structural Repricing
Global bond markets are now confronting a structural repricing of fiscal risk, with the long end of...Read more
Political Risk Premium Fuels Treasury Curve Steepening
The attempted firing of Federal Reserve Governor Lisa Cook by President Trump has injected a new la...Read more
NOB Spread Steepening Signals Structural Reset in Long-End Rates
The widening of the NOB spread—the relative steepening of the 30-year yield over the 10-year yiel...Read more
Front-End Inflation Pricing at Odds with Rate-Cut Bets Signals Tactical Breakeven Opportunity
Market-implied signals for U.S. inflation and interest rates are now diverging to a degree rarely s...Read more
Bond Market Bets on Fed Pivot as Treasury Yields Slip Across Curve
U.S. Treasury yields have fallen sharply across the curve, with the 2-year to 10-year maturities se...Read more
Expansion of Treasury Buyback Program Prompts Debate Over YCC Implications
The U.S. Treasury’s July 2025 quarterly refunding announcement maintained the status quo on coupo...Read more
Navigating a Bond Market at a Crossroads
The current bond market presents a delicate balancing act between opportunity and risk. Despite a l...Read more
Powell Departure Scenario: Curve Steepens, Inflation Expectations Rise, and Volatility Spikes
If Federal Reserve Chair Jay Powell were to step down or be removed—particularly under politicall...Read more
Credit Markets Face Growing Liquidity Pressures Despite Resilient Spreads
Credit markets have demonstrated impressive resilience in recent years, repeatedly rebounding from ...Read more
Foreign Demand for U.S. Treasuries Shows Early Signs of Strain
The April Treasury International Capital (TIC) data warrant close monitoring, as foreign demand for...Read more
Fed Proposal to Ease eSLR Could Be Tailwind for Treasury Market Liquidity
The Federal Reserve’s decision last week to advance a long-anticipated proposal to ease the enhan...Read more
Fed Chair Powell Signals Patience as Fed Officials Float July Cuts
It’s been exactly one week since Fed Chair Jay Powell reiterated the Federal Reserve’s wait-and...Read more
Limited Downside for Yields Without Deeper Fed Cuts
Since President Trump’s surprise overhaul of U.S. trade policy in April, speculation about the ec...Read more
After 40-Year Downtrend, Bond Yields May Be Set for a Multi-Decade Climb
Interest rate cycles often span decades, not just years, aligning with the broader economic trends ...Read more
Treasury Market Whipsaws as Long-End Yields Tell the Tale
U.S. Treasury yields have been whipsawed over the past two weeks, particularly at the long end of t...Read more
Bond Vigilantes Awaken as U.S. Fiscal Woes Roil Treasury Market
The market has spoken—and it’s not impressed. The so-called “Big, Beautiful Bill” may be su...Read more
Traversing the Fixed Income Maze: Treasuries, Credit, and Sovereigns
The fixed income landscape in 2025 is turbulent, driven by volatile U.S. Treasury yields, shifting ...Read more
U.S. Treasury Market Dynamics and De-Dollarization Risks
The Federal Open Market Committee's (FOMC) recent meeting has sparked renewed speculation about the...Read more
The Fed Is Behind the Curve
In 2025, the U.S. economy is navigating a critical policy mismatch. The federal funds target range,...Read more
A Curve Steepener to Hedge Economic, Tariff Uncertainty
The U.S. Treasury market in 2025 is navigating a delicate balance, with tariff-induced volatility, ...Read more
Are US Treasuries Fading as the World’s Safest Asset?
For decades, U.S. Treasuries have been viewed as the ultimate "safe" asset in global markets, but a...Read more
A Look at the Bond Market Through Convexity and Carry
The bond market, though often overshadowed by the stock market’s flashy headlines, is a far more ...Read more
US Treasuries Shaken by Rising Tariff Fears, Basis Trade Unraveling
The new U.S. tariff regime has upended market expectations and introduced meaningful new variables ...Read more