Daily Insights and finance industry analysis

Rates rise slightly ahead of CPI tomorrow. Treasury yields rose 1-4 bps across a steepening curve today in a relatively quiet session. Most of the move occurred overnight, and yields were fairly stable throughout the remainder of the session. Chair Powell’s relatively hawkish testimony to Congress had an immaterial impact on yields, with most attention geared

Yields close nearly flat in a quiet rates session. Treasury yields declined overnight but grinded higher throughout the late morning and afternoon, ultimately closing within 2 bps of opening levels. Potential inflationary pressures associated with new tariffs on steel and aluminum contributed to the climb in yields. 2-year and 10-year yields are now at 4.28%

Rates climb after January labor release. U.S. Treasury yields rose ~6-8 bps today after largely positive January labor data and prior-year revisions heightened concerns about persistent inflation. The 2-year yield ended the day ~8 bps higher at ~4.29%, while the 10-year yield closed ~6 bps higher at ~4.50%. Equities fell throughout the day after a report

Rates little changed ahead of labor data. Treasury market volatility was largely absent today with most attention geared toward tomorrow’s labor figures, which are expected to show slowed hiring growth in January.Yields traded within a 4 bp range and closed 1-3 bps higher, a slight reversal of yesterday’s 1-11 bp decline. The spread between 2-year

Yields continue to decline in a bull flattening session. Rates fell 1-11 bps today, extending the decline over the past few weeks that has pushed Treasury yields to their lowest levels since mid-December. Term yields are now ~40 bps lower than their year-plus long highs set in early January, with the 10-year yield now at 4.42%.

Rates fall as China-US trade war ensues. Tariffs once again dominated headlines with the U.S.’ 10% tariffs on a wide array of Chinese imports taking effect today. China and President Xi Jinping responded with retaliatory measures that generally surprised as less extreme than expected, which fueled momentum that the tariffs will ultimately be used as

Incoming US tariffs push term yields higher. Treasury yields were little changed throughout the morning despite the release of PCE data, the Fed’s preferred gauge of inflation. However, the yield curve steepened in the afternoon following confirmation from the White House that tariffs against Mexico, Canada, and China will be implemented. President Trump’s tariffs have

Yields trend lower ahead of PCE tomorrow. Treasury yields traded within a 5 bp range today and closed 1-2 bps lower across the curve. An overnight decline was offset by a gradual rise throughout the morning, most of which was spurred by strong personal consumption, an acceleration of QoQ core PCE, and lower than expected jobless

Yields spike in aftermath of Fed decision but fall into the close. The Fed unanimously decided to hold rates steady today and offered hawkish comments, with Chair Powell reiterating that the Fed will maintain a patient approach toward monetary easing. Yields quickly rose 4-5 bps in the immediate aftermath of the Fed’s decision but gradually

Treasury market volatility fades ahead of tomorrow’s FOMC meeting. Following yesterday’s DeepSeek-driven flight to quality, Treasury yields were little changed today ahead of the first 2025 FOMC meeting. Yields closed within 1 bp of opening levels after trading within a 4 bp range throughout the session. Lower than expected December durable goods orders highlighted today’s data