Lisa Abramowicz
Co-host of @bsurveillance; Sign up for the newsletter here: https://t.co/4EBiPWI8En
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The more Fed Chair Jay Powell speaks, the more the market hears that the US central bank is done with rate hikes in this economic cycle. US 2-year yields plunge. https://t.co/bjfGD...
HSBC's Steven Major: “US yields at highs for the year are starting to look disruptive for other regions and sectors in global fixed income.” https://t.co/XpSftVB1AM https://t.co/oE...
There's a more open discussion about stagflation in Europe. In July, consumer expectations for EU inflation inched up to 2.4% for the next 3 years from 2.3%, even as services PMIs...
This is important: economists think the disinflation we're currently seeing isn't due to Fed rate hikes, which have yet to fully transmit through the economy. Instead, many say th...
Yields on 6-month T-bills have returned to where they were before Silicon Valley Bank's demise. This makes sense, since traders are currently pricing in a 74% chance of the Fed hik...
Many investors say they find U.S. investment-grade credit attractive, yet the debt keeps underperforming riskier notes, largely due to rates. It's unclear why U.S. high-yield bonds...
This week was defined by big moves in commodities, currencies and longer-dated U.S. bonds, all of which suggest a more near-term recession than just a few weeks ago. But stocks and...
U.S. junk-bond spreads rise to the widest since October 2020: https://t.co/hUAzjmaGZ4
Credit was somewhat cushioned during the first legs of 2022's bear market, but no longer. Yields on US high-yield bonds surged the most yesterday since March 2020, to an average 8....