Global Interest Rates
Markets May Need to Confront a 3% Inflation Reality
Executive Summary U.S. inflation has hovered near 3% for more than two years, suggesting t...Read more
Treasury Sticks to Script with $125B Quarterly Refunding
The U.S. Treasury avoided surprises in its quarterly refunding announcement, outlining issuance pla...Read more
Warsh Nomination Signals Potential Regime Shift, New Curve Playbook
Executive Summary: Kevin Warsh’s nomination to succeed Jerome Powell as the next Fe...Read more
Fed Signals Extended Pause as Growth Firms, Labor Stabilizes
The Federal Reserve left the federal funds target range unchanged at 3.50%–3.75% on Wed...Read more
Federal Reserve Holds Rates Steady, Miran and Waller Dissent
The Federal Open Market Committee maintained the federal funds target range at 3.50%-3.75...Read more
Hidden Leverage: Why the Treasury Market’s Quiet Stability May Be Deceptive
Heightened volatility in short-term interest rates, or a sudden squeeze in repo financing, could pr...Read more
Duration Divergence: Bond Markets Signal Disbelief in the Fed’s Inflation Narrative
While the Federal Reserve maintains direct control over the front end of the yield curve,...Read more
Floating Rates, Firm Reserves: How the Fed Is Quietly Resetting the Front End
After two years of aggressive tightening and volatile funding conditions, the Federal Reserve appea...Read more
Fed Cuts Rates Again as Officials Clash Over Next Steps: Post Analysis
The Federal Reserve delivered an expected quarter-point rate cut on Wednesday, lowering the federal...Read more