The first three months of the new administration have come and gone. While it has become evident that many components of the U.S. political economy are subject to change, that […]

Rising yields in the fourth quarter of 2024 have become a defining feature of the market landscape entering 2025. The 10-Year Treasury yield rose nearly 1.00% to end the year, […]

I would describe the third quarter of 2024 with an adjective that is rarely associated with fixed income markets: exciting. Starting in early summer as inflation waned and labor markets […]

Inflation imposed a more challenging than expected first half of 2024, delaying the start of the rate cut era. A patient Jerome Powell wants to see more data. The second […]

Fixed income markets kicked off the year with an atypical jubilance for an asset class designed to preserve capital and generate income. Nevertheless, a rapid decline in long-term rates over […]

The year 2023 was quite a rollercoaster for U.S. fixed income markets. Rates across the yield curve saw considerable volatility throughout the year as the Federal Reserve’s campaign against inflation […]

Interest rates rose in the quarter and finished at year-to-date highs across the yield curve. The move higher in rates weighed on performance, with both benchmark 10-year Treasury Notes and […]

The bond market settled down even as the Fed continues its fight against inflation. After a rather unpleasant five quarters of frenzy in the fixed income market, a vague sense […]

After a forgettable 2022, a year that accomplished the worst 12-month performance on record, U.S. Fixed Income markets were set to return to something of a more placid environment in […]

Aggressive interest rate hikes led to unprecedented losses in the bond market. Amidst continued aggressive monetary tightening by the Federal Reserve, the U.S. bondmarket notched its worst year on record […]