The Fed Is Fighting Inflation It Cannot Fully Control
The Federal Reserve has an inflation problem again, but it is not quite the same one it faced in 2022. US consumer prices rose 0.6%...
Tag: US economy
The Banks Are Telling the Fed Something
The Federal Reserve believes higher interest rates are slowing the US economy. The banks are showing a more complicated picture. JPMorgan, Citigroup and Wells Fargo...
Growth Is Not a Fiscal Strategy
Scott Bessent believes America can grow its way out of its debt problem. The bond market wants more evidence. The Treasury Secretary argues that the...
The Bond Market Has Stopped Waiting for Cheap Money to Return
The US 30-year Treasury yield has moved above 5.6%. For the first time since 2002. The important question is no longer why yields rose another...
Washington and Tehran Are Now Negotiating With the Clock
The US-Iran war has acquired another battlefield. The calendar. After seven months of conflict, talks in New York have produced little progress. Iran has offered...
The Treasury Market Has Stopped Waiting for the Fed
US Treasury yields surged, with the five-year yield breaking above 5% for the first time since 2007 and the 10-year reaching roughly 5.13%. The move...
The Fed Hiked. The Bond Market Exhaled
The Federal Reserve raised interest rates. And bond yields fell. That apparent contradiction is probably the most important message from Wednesday’s meeting. The Fed increased...
The Fed Has Become Bessent’s Biggest Problem
Scott Bessent’s strategy was built for a different interest-rate environment. The idea was relatively straightforward. Reduce the pressure on the long end of the Treasury...
The Fed Is Walking Into a Crowded Trade
The bond market is no longer merely expecting a Federal Reserve rate increase. It is positioned for one. That distinction matters. Treasury traders have aggressively...