Market Still Undershooting Fed Communication

by | Aug 15, 2023 | Blog, Bonds

Global central bankers will gather later this month in Jackson Hole, WY for their annual meeting. We anticipate markets will seek to understand Powell’s desire to push back on market pricing that the Fed will cut its key rate to around 4% by January 2025 from its...

The Market in Pictures, August 11

by | Aug 11, 2023 | Blog, Charts

Our team looks at a lot of research throughout each day. A few charts that caught our eye this week, and the way they fit the unfolding puzzle of evidence:   Brad: Most Q2 earnings are out, and it’s generally been better-than-expected   Source: Strategas as...

Fitch Downgrades US Credit Rating

by | Aug 2, 2023 | Blog, Bonds

We’ve all seen the news that Fitch downgraded the US Government’s credit rating from AAA to AA+. Fitch’s move follows a similar cut by S&P about 12 years ago.    Source: Bloomberg as of 08.01.2023   Moody’s continues to rate the US AAA (wonder where the...

The Market in Pictures, May 19

by | May 19, 2023 | Blog, Charts

Our team looks at a lot of research throughout each day. A few charts that caught our eye this week, and the way they fit the unfolding puzzle of evidence:   Dave: The debt ceiling remains a story for markets, here’s Morgan Stanley’s walkthrough of prior...

The Market in Pictures, May 12

by | May 12, 2023 | Blog, Charts

Our team looks at a lot of research throughout each day. A few charts that caught our eye this week, and the way they fit the unfolding puzzle of evidence:   John Luke: Tough to see how inflation can get down to the Fed’s stated 2% target   Source: Strategas...