by John Luke Tyner | Apr 13, 2022 | Blog, Macro Updates
U.S. consumer prices rose in March by the most since late 1981. The consumer price index increased 8.5% (2.2% of the headline number can be attributed to energy) from a year earlier following a 7.9% annual gain in February. The month over month inflation gauge rose...
by John Luke Tyner | Apr 8, 2022 | Blog, Bonds
* Bonds… The Rough Stretch Continues: The Bloomberg US Aggregate Index continues the largest drawdown in its history. Since August 6th, 2020 – the end of the most recent bull market in bonds – the index has declined by -9.2%. Even after the drawdown,...
by John Luke Tyner | Mar 29, 2022 | Blog, Bonds, Macro Updates
The spread between the 10-year Treasury and the 2-year Treasury has compressed materially over the first three months of 2022 (~80bps of tightening), and inverted yesterday for a brief moment. The 10/2 spread is currently sitting at 5bps this morning vs. 80bps on...
by John Luke Tyner | Mar 24, 2022 | Blog, Bonds
* Bonds… A Rough Stretch: The Bloomberg Global Aggregate Index, a benchmark for government and corporate debt, has fallen 11% from a high in early 2021. That’s the biggest decline from a peak in data stretching back to 1990, surpassing a 10.8% drawdown during the...
by John Luke Tyner | Mar 17, 2022 | Blog, Macro Updates
And…We Have Lift Off As expected, the Fed raised the overnight target rate 25 bps to 0.25% – 0.50%. The market had priced seven hikes this year prior to the meeting, and the Fed delivered. For some time now, the market has been pulling the Fed in its...
