February 24, 2021 Headlines

February 24, 2021 Headlines Both Treasury yields and equity futures are higher this morning due to comments made by Fed Chairman Powell stating that the central bank would remain committed to supporting economic growth. The 10-year is currently 7 bps higher this...

February 23, 2021 Headlines

February 23, 2021 Headlines All eyes are on Washington today as Fed Chair Powell presents the semi-annual monetary policy update to the Senate Banking Committee. Market participants will be specifically focused on how Powell’s addresses the magnitude of the recent...

February 22, 2021 Headlines

February 22, 2021 Headlines Treasuries are little changed this morning amid general softness in risk markets to start the week. There’s a growing sense of optimism related to Covid recovery, and consequently, inflation has been the word of the month so far in...

February 19, 2021 Headlines

February 19, 2021 Headlines Treasury yields are drifting higher and steeper again this morning following a relatively quiet overnight session. Equity futures are up 30-65 basis points ahead of the open, with earnings optimism outpacing rising yields worries as it...

February 18, 2021 Headlines

February 18, 2021 Headlines Treasury yields continue to leak higher on the long end of the curve this morning. Yesterday’s blowout January retail sales report is still fresh on market participants’ minds, and increased mortgage-related hedging activity amid this...

February 17, 2021 Headlines

February 17, 2021 Headlines January retail sales in the U.S. jumped 5.3% – the largest bump in seven months – following a disappointing fourth quarter, including December, which saw a 1% decline; median estimates called for a 1.1% monthly gain in January. The “control...

February 16, 2021 Headlines

February 16, 2021 Headlines .S. equity markets are set to open higher following the extended holiday weekend, as support for risk assets continues to permeate behind monetary and fiscal support; Treasuries sold off into the morning, the with the 10-year up 4.5 bps....

February 12, 2021 Headlines

February 12, 2021 Headlines With several Asian markets closed for Lunar New Year, it was another quiet overnight session. Despite a modest risk-off tone in equities this morning, Treasury yields are drifting higher and steeper. For equities, the Q4 earnings season...

February 11, 2021 Headlines

February 11, 2021 Headlines Treasuries are essentially unchanged across the curve this morning following a quiet overnight session. In a speech yesterday, Fed Chair Powell delivered more ultra-dovish guidance, saying that the U.S. is “still very far from a strong...

February 10, 2021 Headlines

February 10, 2021 Headlines Treasury yields are drifting lower following a tamer than expected inflation report for January, and U.S. equity futures are up 45-50 basis points amid a mild risk-on tone ahead of the open. The January CPI report revealed softness in the...

February 9, 2021 Headlines

February 9, 2021 Headlines Better demand by Asian investors is pushing Treasury yields lower and flatter this morning, and U.S. equity futures are pointing to a slightly lower open. House Democrats have unveiled the first draft of the Covid relief bill, which still...

February 8, 2021 Headlines

February 8, 2021 Headlines Treasury yields continue to leak higher as the White House and congressional Democrats press forward with efforts to pass the larger $1.9 trillion Covid relief plan. Treasury Secretary Janet Yellen took to the Sunday morning news to build...

February 5, 2021 Headlines

February 5, 2021 Headlines  Financial markets are digesting another soft jobs report this morning. Nonfarm payrolls added just 49,000 jobs in January (+105k expected), and the prior two months were revised lower by 159,000 jobs. The unemployment rate unexpectedly fell...

February 4, 2021 Headlines

February 4, 2021 Headlines There is a slight risk on tone in the market which has equity futures pointing to a higher open while long-end Treasury prices are lower this morning. The sentiment was further buoyed by a better-than-expected jobless claims number. The...

February 3, 2021 Headlines

February 3, 2021 Headlines In a continuation of yesterday’s momentum, the Treasury curve is 2-3 basis points steeper this morning on stimulus expectations general risk-on sentiment. Congressional Democrats continue to move forward with the necessary steps to push much...

February 2, 2021 Headlines

February 2, 2021 Headlines Hope on both the vaccine and stimulus fronts is fueling risk appetite in global markets today. U.S. equity futures are up 80-90 basis points (bps) ahead of the open, and long-end Treasury yields are 3 bps higher. President Biden will...

February 1, 2021 Headlines

February 1, 2021 Headlines U.S. equity futures are up 65-100 basis points ahead of the open despite the Reddit crew of retail investors taking on sliver this morning, sending the price of the commodity up as much as 13%. Treasury yields are modestly higher and steeper...

January 29, 2021 Headlines

January 29, 2021 Headlines The tone in global markets is mixed this morning, with equites continuing to struggle on ongoing concerns related to this week’s volatility tied to coordinated speculation by retail stock traders. Despite the softness in equity markets,...

January 27, 2021 Headlines

January 27, 2021 Headlines A risk-off sentiment took hold in overnight trading and has pushed US equity futures into the red while Treasury yields declined across the curve. Disagreements between the EU and AstraZeneca over vaccine delivery as well new lockdown...

January 26, 2021 Headlines

January 26, 2021 Headlines An improved tone in risk markets is contributing to a modest increase in Treasury yields out the curve. The pro-risk tone was not uniform in global markets, however. The Chinese central bank unexpectedly drained $12 billion in reserves and...