by John Luke Tyner | Apr 13, 2023 | Blog, Bonds
Core CPI was in line with a softer shelter print (shelter/OER came in at 0.45%), but the headline was a little soft as energy declined, food was flat. The big question is how will the Fed view this number? Source: Macro84. As of 4/12/23. Core still at...
by John Luke Tyner | Apr 3, 2023 | Blog, Bonds
A Look Back on TIPS Treasury Inflation-Protected Securities (TIPS) are a type of government bond issued by the US Treasury Department. Unlike conventional bonds, TIPS are designed to protect investors from inflation. This is done by adjusting the bond’s...
by John Luke Tyner | Mar 21, 2023 | Blog, Bonds
Municipal Spreads are Lacking Luster Spreads on short municipal paper (10yrs and in) are well inside their historic averages. Source: UBS. As of March 17th, 2023. Municipal Supply Remains Tight The expected muni supply coming to market is...
by John Luke Tyner | Mar 14, 2023 | Blog, Bonds
Consumer prices rose in February by the most in 5 months, although the move was roughly in line with expectations. Headline CPI number moved lower to 6.0% YoY as the February 0.4% print replaced last year’s 0.7% print. Source: Bianco. As of 3/14/23. Next...
by John Luke Tyner | Mar 13, 2023 | Blog, Bonds, Macro Updates
2 Years a Movin’ To give some perspective on the move in Fed Funds rate the last couple days, we have just witnessed one of the fastest/ largest slides since 1987. Source: Bloomberg. As of 3/13/23. The chart above shows Fed Funds curve last...
by John Luke Tyner | Mar 1, 2023 | Blog, Bonds
While bonds got off to a fast start this year, February’s returns were almost the mirror image from a total return standpoint. As the chart shows, Bloomberg’s Global Aggregate Index returned -3.32% last month. With data going back to March 1990, this ranks as the...
