5 minute read
Trump's policy reversals buoy markets.
1 minute read
Weekly Cash Commentary
2 minute read
Weekly Bond Commentary
7 minute read
Should investors focus on solid hard data or weak soft data?
The stability of the money markets is shining amid the greater financial turbulence.
Calculated well before the tariff announcement, the US added a robust 228,000 jobs in March.
4 minute read
Total US money fund assets push past $7 trillion.
Concern about Trump’s tariffs and sticky inflation seem to be deflating consumer confidence.
Fed stays in wait-and-see mode, but makes major changes to its forecast
3 minute read
'Uncertainty' dominated the FOMC meeting this week.
7 minute watch
Sue Hill breaks down Fed decision-making in 2025 and the impact on local government investment pools.
6 minute read
Bessent preaches short-term pain for long-term gains.
Maybe the Fed’s not done cutting rates this year, after all.
Market intervention should subside under the new SEC leadership.
Financial markets roiled by developments in D.C.
On the back of solid holiday retail sales, January's were dismal.
Weekkly Bond Commentary
The rally broadens.
New year starts with hiring and wage growth.
For liquidity investors, the Fed decision to pause cuts matters more than Powell and Trump locking horns.
Revisions are possible due to inventory and trade data.
Peak policy uncertainty.
Stocks playing catch-up with bond market sell-off.
Employment strength should keep Fed on the sidelines for some time.
Three things to watch in 2025.
As the Fed slows its pace, shoppers are increasing theirs.
Labor market rebounds from October weather and strikes.
Money market assets have reached a new mark.
Confidence high and stocks higher as election gives way to holidays.
8 minute watch
In this video, Paige Wilhelm breaks down the recent decisions by the Fed to cut rates and how it might impact local government investment pools.
Will rising post-election confidence boost holiday sales?
Resurgent inflation and stronger growth render the Fed’s rate-cutting plans uncertain.
Republicans closing in on 'Red Trifecta.'
Powell rebuffed questions about the Fed's future, and his own, but his nebulous comments give the FOMC latitude.
Investors, voters and the Fed will likely look past the October jobs report distorted by hurricanes and strikes.
Noisy data and election uncertainty might slow Fed easing.
Will Fed’s data dependency generate market volatility?
The bullish stock market seems to be overlooking deteriorating fundamentals.
Robust September jobs report supports view the economy is headed for rotation, not recession.
Interest rates have fallen, but in the liquidity space, the sky has not.
Weakest Back-to-School spending in 15 years.
Federal Reserve ‘recalibrates’ monetary policy.
The data did not support the large cut, but the Fed did not want to seem behind the curve.
The Fed’s half-point rate cut shows it still thinks the economy can avoid a recession.
On the cusp of cutting rates, the only unknowns are the pace and magnitude.
Fed on track to begin cutting rates later this month.
Presidential elections typically gather steam after Labor Day.
Markets are yet again pricing in too many Fed cuts.
Powell adopts dovish tone in his Jackson Hole keynote
Will politicians finally address the ballooning U.S. debt and deficit?
Weak jobs report should prompt Fed to cut rates in September.
The FOMC is back to considering both the labor market and inflation equally as it weighs cuts.
Combination could chill the Fed longer than the consensus believes.
The U.S. economy is slowing and inflation declining, but when will the Fed cut rates?
8 minute read
Headline payroll strength hides weaker details.
A gathering of professionals acknowledged five decades of money funds and sifted through issues in their future.
The presidential debate may be the only one in the election cycle.
Filling up at the pump matters to voters.
Despite dovish inflation data, Fed issues hawkish dots.
Nonfarm payroll strength belies weakness in other areas.
With the Fed on hold and tax collection over, assets resume flowing into liquidity products.
Fed likely to take the summer off.
Baby bust fuels need for immigration and Social Security reform.
Stocks soar as CPI eases despite declining retail sales and confidence.
The U.S. Treasury’s plan to buy back some of its securities should have many benefits.
Other inflation metrics remain sticky and persistent.
Does today’s soft jobs report successfully change the Fed's narrative?
The Fed's game plan hasn't changed, but defeating inflation will take longer than it expected.
Cooling GDP and accelerating inflation problematic for the Fed.
Three things to watch in 2024.
A surprisingly strong economy could mean higher for longer, longer
At the end of the day, it'll be a gift for competitors.
The new regulations for money funds don't change their value proposition.
Might a summer storm lie ahead for investors?
MBS issued by U.S. housing agencies could have advantages for investors if the economy slows.
Could energy buck conventional wisdom?
9 minute read
If it is, bubbles can last a long time.