Around the Bond Market, September 2024

September 11th   We take a moment at Aptus today to remember the lives lost on this tragic day 23 years ago. We are grateful for the men and women who make the enormous sacrifice to keep our nation safe. Never forget!   August CPI Update   This morning U.S....

Closer to Rate Cuts

June CPI Reaction In response to the CPI print, markets are now pricing in an 8.5% chance of a July cut, a 94.5% of a September cut, and an 85.6% chance of at least 2 cuts by the end of the year. We think the market should not ignore the signal here. We’re...

May Inflation + June FOMC

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....