The Macro View

PERFORMANCE SNAPSHOT While equities have been strong through July, so too have bonds. In fact, all domestic fixed income sectors outperformed the S&P 500 since 10/1/2018.    Sector Summary: US Treasuries: The Treasury yield curve flattened, with shorter-term rates rising sharply as the market digested the Fed projections on future rate cuts with continued weak… Read more »

PERFORMANCE SNAPSHOT  Note: While equities have been strong, so have bonds. In fact, all domestic fixed income sectors have outperformed the S&P 500 since 10/1/2018   US Treasuries: An equity market rebound in June did not prevent Treasuries from posting another strong month. Yields declined across the curve, with the benchmark 10- year yield reaching a… Read more »

US Treasuries – Trade war fears dominated the headlines in May, and equity market volatility re-emerged. This was good news for Treasuries, which posted a strong, positive month. Yields declined across the curve, with the 10-year yield reaching a 2019 low of 2.12% at the end of the month. Federal Reserve Chairman Powell indicated that… Read more »

US Treasuries – After a very strong March, Treasury prices declined in April. Yields rose from the lows of 2019, as economic data improved. Federal Reserve policy remains accommodative, and there is no indication that the committee changed its stance on rate hikes for the remainder of the year. The yield curve steepened over the… Read more »

US Treasuries – Treasuries surged in March, aided by the Federal Reserve’s decision on March 20th when the committee indicated that they would not raise the Fed Funds Rate for the remainder of 2019. Yields declined across the curve, with the intermediate portion of the curve experiencing the largest move down. Significant flattening occurred during… Read more »