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Fixed Income Insights
Weekly Fixed Income Commentary: Rising inflation concerns drag on returns
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U.S. Treasury yields rose last week and the yield curve steepened, as the U.S. Federal Reserve (Fed) kept policy unchanged. The moves were driven by higher inflation expectations, as the Fed doubled down on its commitment to let the economy run hot, which benefited credit sectors.
Fixed Income Insights
Weekly Fixed Income Commentary: Treasury yields decline as investors fret over rising tax rates
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U.S. Treasury yields declined last week and risk assets weakened slightly. Despite positive economic data, investor sentiment took a hit as attention centered on reports that the Biden administration is preparing a proposal to raise capital gains tax rates. The Federal Reserve (Fed) will be in focus this week, though no major policy changes are expected.
Policy and Regulatory Commentary
The Narrow Margin in the House
With the U.S. Senate split 50-50 between Democrats and Republicans, most political analysts’ eyes have been cast toward that side of Capitol Hill when debating what legislation can – or can’t – make it through Congress.
Fixed Income Insights
Weekly Fixed Income Commentary: Treasury yields decline as risk assets perform well
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U.S. Treasury yields declined again last week, as technical dynamics and non-U.S. demand outweighed better economic data and rising inflation. 10-year Treasury yields fell -8 basis points, helping all major fixed income market segments to rally.
Policy and Regulatory Commentary
The One Thing Both Parties Agree On: More Tech Scrutiny
Here is one of the worst kept secrets in Washington: lawmakers on Capitol Hill aren’t in love with technology companies.
Fixed Income Insights
Weekly Fixed Income Commentary: Treasury yields decline and risk assets rally
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Despite further positive economic data, technical dynamics turned more favorable and helped all major fixed income market segments to rally last week. 10-year U.S. Treasury yields fell -6 basis points and credit sectors generated positive total and excess returns versus similar-duration Treasuries.
Policy and Regulatory Commentary
SALT May Make an Infrastructure Package a Bitter Pill to Swallow
Both chambers of Congress still have to achieve majority support for these two massive packages — and some of the White House’s tax plans, which have been proposed to pay for trillions of dollars in infrastructure spending, are deeply unpopular within the president’s own party.