The Bond Environment Entering the Warsh Regime

Treasury Curve Movements   The yield curve today looks drastically different than the beginning of the year. The largest increases have occurred in the belly of the yield curve, with 2s rising the most at a 59 bp increase since the start of the year, with lesser...

Around the Bond Market, September 2025

CPI came in a touch hotter than expected in August, with the headline rising 0.382%, rounding to 0.4%, and the core rising 0.346%, rounding down to 0.3%. The consensus was 0.3% for both. The YoY CPI inflation rate rose from 2.732% to 2.939%, while the core YoY rose...