by John Luke Tyner | Jun 13, 2024 | Blog, Bonds
We see today’s print to be one of the first encouraging inflation prints for the Fed. The broader softness across components could point to a continuation of the slowing inflation data. May Core CPI came at 0.163% M/M (2% annualized), which was well below estimates....
by John Luke Tyner | May 23, 2024 | Blog, Bonds
TBAC Seeks New Funding Ideas The borrowing needs of the Treasury over the coming years are expected to drive an increase in issuance as the debt load compounds. The share of outstanding Treasuries held by its two largest investor types (foreign investors and...
by John Luke Tyner | May 9, 2024 | Blog, Bonds
Short Term Treasuries Offer Higher Income and Stability vs. Long Duration As interest rates have moved higher, the front end of the curve is offering a combination of high nominal income and interest rate protection. As the graphic shows, 2yr Treasury yields would...
by John Luke Tyner | May 2, 2024 | Blog, Bonds
As expected, the Fed kept its Funds rate range unchanged at a 5.25% – 5.50% level. Powell’s comments were less hawkish than feared, but there was disappointment expressed regarding the inflation news thus far in 2024. The Fed subtly walked back its last...
by John Luke Tyner | Apr 25, 2024 | Blog, Bonds
The flexible components of core CPI have been in deflationary territory over the past year (blue line in the chart below). The stickier components of core CPI, however, are still running well above their pre-pandemic average (orange line). Source: Bianco as of...
