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The Committee is Unanimous!

The Committee is Unanimous!

The long-anticipated decision from the Federal Open Market Committee today was to raise the Fed Funds Rate by a quarter point, the first hike in three years, as the Fed moves to combat rising inflation risks. The Committee voted unanimously to lift rates to a new...
Caught Between Two Pressures

Caught Between Two Pressures

Heading into the September 16 FOMC decision, swaps and futures markets imply roughly 60% odds that the Fed lifts its target range to 3.75%–4%.That puts the market and the White House on opposite sides of the same question. President Trump has again pressed...
10-Year Treasury Tops 4.80%

10-Year Treasury Tops 4.80%

The 10-year Treasury topped 4.81% this week as the bond market continues to signal concern over inflation and rising oil prices and our rising deficit. This has been the highest level since October 2023, when the 10-year touched 4.92%. (1) Investors are essentially...
Here Today, Gone Tomorrow

Here Today, Gone Tomorrow

Just two weeks after unveiling its buyback schedule for the quarter, the Treasury Department announced Wednesday that it’s doubling — at minimum — the size of its liquidity support buyback operations for securities in the 10-year to 30-year range. Timing appears...