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Fixed Income Insights
Weekly Fixed Income Commentary: Treasury yields rise amid support for risk assets
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U.S. Treasury rates closed higher last week, led by longer maturities. A constructive market tone lifted rates and supported risk assets. Prospects for additional fiscal stimulus prior to the U.S. election dimmed, but rates rose nonetheless as the yield curve steepened.
Fixed Income Insights
October Fixed Income Market Update
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In our view, while economic data has been generally improving, higher frequency data such as elevated jobless claims and small business employment highlight the risk that the recovery could stall absent additional fiscal stimulus. Given tensions and political posturing entering the last stages of election season, short-term we believe risk premiums should be higher on the margin until resolution of the election.
Fixed Income Insights
Weekly Fixed Income Commentary: Treasury yields fall due to rising coronavirus cases and stalled stimulus
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U.S. Treasury yields declined across the yield curve last week, led by longer maturities. Markets are concerned about rising COVID-19 case counts in the U.S. and Europe, stalemated U.S. fiscal stimulus negotiations and the pausing of several coronavirus drug and vaccine trials.
Fixed Income Insights
Weekly Fixed Income Commentary: Treasury yields rise amid risk-on sentiment
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U.S. Treasury yields rose across the yield curve last week, led by longer maturities. Investors saw renewed potential for a fiscal stimulus package, as well as the possibility of a Democratic sweep of the White House and Senate. Risk assets rallied as a result.
Fixed Income Insights
Weekly Fixed Income Commentary: Treasury yields rise despite shifting risk sentiment
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U.S Treasury yields rose last week, led by longer maturities. Investors remain focused on uncertain prospects for additional fiscal stimulus, and a tumultuous presidential debate provided little clarity. The shift in yields was slight across the board, with the news that President Trump had contracted COVID-19 only slightly souring investor sentiment.
Fixed Income Insights
Weekly Fixed Income Commentary: Cautious sentiment pushes Treasury yields lower
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U.S Treasury yields declined last week, led by longer maturities. Negative market sentiment was prompted by rising numbers of COVID-19 cases in Europe and decreasing expectations for an agreement on U.S. fiscal stimulus.
Fixed Income Insights
Interest rates: Lower for longer...or forever?
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On September 16, 2020, the U.S. Federal Reserve (Fed) left interest rates near zero and signaled that it expects to hold them there through at least 2023, adding outcome based guidance. The statement follows the new long-term policy framework announced by Chair Jay Powell in August at the Federal Reserve Bank of Kansas City’s annual Jackson Hole conference. The Fed notes that rates will remain near zero “until labor market conditions have reached levels consistent with the Committee’s assessments of maximum employment and inflation has risen to 2 percent and is on track to moderately exceed 2 percent for some time.” We didn’t get a precise definition of what a moderate overshoot would look like, allowing the Fed to retain some flexibility.
Fixed Income Insights
Weekly Fixed Income Commentary: Treasury yields increase slightly as the Fed keeps asset purchases steady
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Most U.S. Treasury yields increased modestly last week, led by longer maturities.
Fixed Income Insights
Weekly Fixed Income Commentary: Treasury yields decline as risk-off trade continues
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U.S. Treasury yields fell in response to continued risk-off market sentiment.