Global Interest Rates
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
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