A Journey About To Begin In Bonds

Every journey starts somewhere. It is the result of a plan or just a thought that is acted upon impulsively. And every one of them takes unexpected twists and...

Fed Beige Book Inflation Take Raises Odds for March 21 Interest...

The Federal Reserve’s Beige Book economic report, based on anecdotal information collected by the 12 regional Federal Reserve banks, shows that a tight U.S. labor market is generating wage...

Most Asset Classes Fell Last Week

Last week’s trading ended in the red for all but one of the major asset classes, based on a set of exchange-traded products. US inflation-linked Treasuries edged higher over...

Fed chair testifies: So much for Goldilocks

For a moment this morning–before the actual testimony by new Fed chair Jerome Powell had ended but after Wall Street had read his prepared remarks–stocks moved ahead on Wall...

An inflation test for the new guy at the Fed

Ahead of congressional testimony tomorrow by new Federal Reserve Chairman Jerome Powell, Wall Street is buzzing with speculation that the Powell Fed will be willing let inflation run higher...

This is as good as it gets, says Goldman Sachs: Why...

On Thursday February 22, Goldman Sachs wrote in a note to clients that the economic macro data as likely to be “as good as it gets.” This isn’t, in my...

10-year Treasury yield back to 2.87% as market decides wage inflation...

Traders and investors decided today that the Federal Reserve’s semiannual monetary policy report to Congress is wrong and that Wall Street’s own seers are right about wage-driven inflation. The Fed’s...

Treasury auction today could have been worse; yields climb anyway

The U.S. Treasury auctioned off $35 billion in 5-year notes today. The yield climbed to 2.658%. In trading the 5-year Treasury closed at 2.68% today. That yield is up 23...

Federal Reserve minutes show bank upping estimates of growth in 2018–and...

Today’s release of the minutes from the Federal Reserve’s January 30-31 meeting show the central bank estimating economic growth at 2.5% for 2018 and noting that the outlook for...

Should You Worry About Interest Rates in 2018?

President Donald Trump has been shaking things up in Washington D.C., looking to make good on numerous campaign promises. The administration has now turned its efforts to a major...

10-year Treasury climbs to 2.91% on less than enthusiastic bills auction

Not a good way to begin if you have to sell $441 billion in net debt in the first quarter of 2018. This morning the U.S. Treasury sold $96 billion...

Saudis push OPEC to go for $70 a barrel

The goal was to cut production enough to reduce global oil inventories to their five-year average. The hope of the coalition of OPEC and Russia that reduction in production...
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