2 minute read
Weekly Cash Commentary
Weekly Bond Commentary
1 minute read
The federal government shutdown is not the same as it reaching the debt limit.
5 minute read
Trump’s pressure on the Fed notwithstanding, the money markets have much to celebrate.
4 minute read
Fed holds rates, and Chair Powell sidesteps President Trump's pressure.
3 minute read
Facing criticism and uncertainty, Fed Chair Powell makes things worse by dismissing the SEP.
With inflation under control, the Fed should cut rates twice later this year.
The question: Has Moody’s downgrade of the US credit rating impacted money market funds?
7 minute read
Equity and fixed-income investors are responding differently to tariff and fiscal policy uncertainty.
Week Cash Commentary
Solid US economic data also helps as equities reverse their April freefall.
For now, Trump is 'just' insulting Fed Chair Powell, as the Treasury market has pushed back.
Import surge pushes first-quarter GDP into the red.
Labor market remains solid, despite tariff uncertainty.
Trump's attacks make it harder for the Fed Chair to steer the economy through the storm.
Trump's policy reversals buoy markets.
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.
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
'Uncertainty' dominated the FOMC meeting this week.
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.
Three things to watch in 2024.
MBS issued by U.S. housing agencies could have advantages for investors if the economy slows.