by John Luke Tyner | Mar 11, 2022 | Blog
The U.S. CPI surged +0.8% m/m and 7.9% y/y in February. Core CPI, which is a measure that takes out food and energy, rose +0.5% m/m and 6.4% y/y in Feb. Given the recent geopolitical event since this February figure, specifically regarding the upward commodity...
by John Luke Tyner | Mar 3, 2022 | Blog, Macro Updates
Current Rates & the Curve: The Ukraine-Russia War captured investors’ attention as the 10-year US Treasury traded in a ~30 bps range since last week. The yield of 2.00% quickly became a sub-1.70% as the market digested the ever-changing geopolitical...
by John Luke Tyner | Feb 18, 2022 | Blog, Bonds, Macro Updates
Current Rates & the Curve Macro influences like the Russia/ Ukraine news are likely temporary and the major influence over yields remains central bank tightening. That is the key to watch beyond the short term, and the bottom line is that the trend in...
by John Luke Tyner | Feb 15, 2022 | Blog, Macro Updates
The inflation print was hotter than expected and surprised to the upside AGAIN. The data should reinforce the Fed’s need to begin raising rates next month to combat broad-based inflationary pressures. The continuation of strong inflation data (and job/wage data)...
by John Luke Tyner | Feb 10, 2022 | Blog, Bonds
From a risk-premia perspective, equities and high yield both provide exposure to corporate earnings, albeit in a different manner. While equity is a purer exposure to corporate profits, high yield provides exposure to default risk. Source: Cornerstone Macro. As of...
