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Bank of England Likely to Join the Hiking Club

We started raising interest rates at the end of 2021 to help control inflation. Since then, it has fallen a lot and the pressures that caused price rises had eased. As a result, we were able to start reducing interest r…

Credit Spreads: Calm on the Surface, Concern at the Bottom

Stock investors spend countless hours sifting through fundamental data, listening to earnings calls, charting prices, and tracking the economy, among other things. Yet one of the most revealing gauges of financial condi…

A Blue Wave in the US and Euro Inflation

It was a “stunning rebuke” to President Trump. That’s not Fortune’s opinion, by the way. The words “stunning rebuke”—and variations on that theme—were the choice of dozens of front pages reporting on the midterm electio…

US Midterms and Expanding European Government Bond Concerns

The United States has reached a significant milestone in its public finances, with federal debt held by the public climbing to approximately 100% of gross domestic product (GDP) for the first time since the aftermath of…

Wall Street Braces for Bessent’s Next Treasury Experiment

• Wednesday’s quarterly refunding could mark the biggest change in Treasury issuance guidance since early 2024, with Wall Street increasingly expecting Washington to give itself more freedom to reduce long-duration supp…

Rates Spark: Leaning Hawkish, but No Action

On the Fed, it's tough to view the current set-up of still elevated printed inflation and a Fed on hold as all that protective. We glean from this enough to validate the move back above 5% on the 10yr. On the ECB, forwa…

The Bond Market May Be Ready to Take Matters Into Its Own Hands

A core bond allocation traditionally has been a key element of a diversified portfolio. High-quality bonds generate regular income and, importantly, can be a stabilizing force when riskier assets come under pressure (Fi…

Rates Outlook: Kevin Warsh and John Healey Walk Into a Bar

Barring a Brazilian-style election surprise, the Fed should leave rates unchanged. It seems the US 10yr is waiting to tick this off before it deviates too much from 5%. Meanwhile, the UK 10yr yield should ease lower aft…

Bond Market Tests the Inflation Narrative as Yields Tumble

This past weekend, Adam Taggart and I discussed what happens to Treasury bond yields when the United States enters a military conflict. The conventional wisdom is reflexive and tidy. A conflict triggers a flight to safe…

Are Bonds Pricing in a Fed Policy Mistake?

Imagine someone looking into their crystal ball and telling you at the beginning of October that the coming September CPI data would be higher than expected, and producer prices (PPI) would rise 1.3% for the month, well…

Global Bond Markets May Face More Volatility Amid an AI Unwind

LinkedIn and 3rd parties use essential and non-essential cookies to provide, secure, analyze and improve our Services, and to show you relevant ads (including professional and job ads) on and off LinkedIn. Learn more in…

Rates Outlook: Don’t Expect a Break Back Below 5%

Millions of Americans will move forward with home purchases this year, despite mortgage rates that won’t budge from their perch above 6% and home prices that continue to break records. Some of these buyers are banking o…

Think Rates Are Peaking? Consider Mortgage-Backed Securities

The size and persistence of inflation post-COVID-19 was among the largest problems the U.S. economy has faced in decades. The rise in house prices was a major contributor to this inflationary episode. Understanding this…

Rates Outlook: Don’t Get Too Comfortable

Crude oil prices jumped and stock prices fell after President Trump declared an end to the fragile ceasefire in the Strait of Hormuz. The U.S. military attacked dozens of targets along the Iranian coastline overnight, i…

Rates Outlook: Volatility Is No Friend of Spreads

📘 Why Manual Forex Trading Is Officially Dead — And AI Will Bury It in 2026 ________________________________________ 1. 🚨 Executive Summary Manual FX trading is not merely declining—it is entering its terminal phase. As…

Rising Real Yields Point to a 6% 10-Year Treasury Rate

The Relationship Every Gold Trader Should Understand Why Falling Real Yields Continue to Be One of Gold's Most Powerful Bullish Catalysts "Gold does not compete with stocks. Gold does not compete with bonds. Gold compet…