Dalvir Mandara
US Treasury yields increased last week after Federal Reserve (Fed) Chair Powell gave a hawkish speech. He stated that the FOMC would hike again if inflation was not on a sustainable path back to the 2% target and that December was a live meeting. Additionally, The University of Michigan’s preliminary reading for its Consumer Sentiment […]
Dalvir Mandara
US Treasury yields ticked lower on Friday after the Federal Reserve’s (Fed) preferred measure of inflation, core PCE, increased +0.3% MoM as expected. This also came after Thursday’s US Q3 GDP release came in stronger than expected at +4.9% QoQ, against +4.5% consensus. Looking forward, Dominique believes that growth will remain above trend. As a […]
Dalvir Mandara
Last week, US 10Y yields exceeded 5% for the first time since July 2007 as investors digested comments from Federal Reserve officials reacting to the September CPI data. There was limited reaction from the doves (Harker, Williams, Barkin, Goolsbee, and Bostic) while Waller and Fed Chair Powell stood out by leaving the door open for […]
Dalvir Mandara, Bilal Hafeez
US treasury yields declined on Friday as investors digested the latest inflation data out of the US. September core CPI (+4.1% YoY) was in line with expectations while headline (+3.7% YoY) was above expectations.
Dalvir Mandara, Bilal Hafeez
US treasury yields increased last week as an unexpectedly strong US jobs report strengthened the case for more tightening from the Federal Reserve (Fed). Nonfarm payrolls increased by 336k in September against expectations of 170k.
Dalvir Mandara, Bilal Hafeez
US treasury yields surged yesterday as bond prices around the world sold off after the US government avoided a shutdown and US manufacturing showed some signs of recovery.
Dalvir Mandara, Bilal Hafeez
US treasury yields rose last week as markets digested the outcome of the latest FOMC meeting on Wednesday.
Dalvir Mandara, Bilal Hafeez
US treasury yields rose last week as markets digested the latest inflation data. Notably, August CPI (headline: +3.7% YoY vs +3.6% consensus) accelerated above expectations. Core goods prices (excluding used cars) rose MoM, shelter inflation slowed but remained above levels consistent with the Fed’s target, and core services excluding housing inflation accelerated.
Dalvir Mandara, Bilal Hafeez
US treasury yields rose last week after multiple economic indicators signalled persistent inflationary pressures, a tight labour market, and strong growth.
Dalvir Mandara, Bilal Hafeez
US treasury yields rose on Friday after a mixed jobs report for August. US nonfarm payrolls (NFP) were roughly in line with expectations, unemployment rose 30bp due to an increase in participation, and nominal wage growth slowed MoM but was roughly unchanged YoY.
Dalvir Mandara, Bilal Hafeez
US treasury yields continued to rise last week as investors digested minutes from the most recent FOMC meeting, which pointed to the possibility of further interest rate hikes.
Dalvir Mandara, Bilal Hafeez
US treasury yields increased last week on the back of slightly higher-than-expected producer prices (a measure of wholesale inflation) – the producer price index (PPI) rose +0.3% MoM through July against the +0.2% expected.
Dalvir Mandara, Bilal Hafeez
US treasury yields increased last week with markets anticipating the Federal Reserve (Fed) to deliver another rate hike at this week’s FOMC meeting.
Dalvir Mandara, Bilal Hafeez
US treasury yields fell last week as investors weighed soft inflation data. June CPI surprised to the downside but added little to deflation trends.
Dalvir Mandara, Bilal Hafeez
US treasury yields were volatile last week with the 2s10s inversion hitting -108bps on Monday – its deepest since 1981 during the Volcker era.
Dalvir Mandara, Bilal Hafeez
Federal Reserve (Fed) officials signalled that further interest rate hikes lie ahead, sending US treasury yields higher, last week. San Francisco Fed President Mary Daly said that two more rate hikes this year is a ‘very reasonable projection’ in an interview with Reuters.
Dalvir Mandara, Bilal Hafeez
US treasury yields moved higher last week as expectations for a further Federal Reserve (Fed) two hikes, following the FOMC meeting, outweighed the suggested cooling in the inflation data (CPI and PPI). Headline CPI fell to +4.0% YoY (+0.1% MoM) while headline PPI came in at +1.1% YoY (-0.3% MoM). Elsewhere, the European Central Bank (ECB) hiked rates by 25bps.
Dalvir Mandara, Bilal Hafeez
US treasury yields rose last week, as investors prepared for the June 13-14 FOMC meeting. Mixed signals from Federal Reserve (Fed) officials and economic data in recent weeks have left investors with a degree of uncertainty over the future of interest rate hikes.
Dalvir Mandara, Bilal Hafeez
May nonfarm payrolls (NFP) supported both hawks and doves. The May NFP release (339,000 vs 195,000 expected) showed a combination of high employment growth, low unemployment, and no nominal wage acceleration.
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