Rates and equities continue their decline for a second day. Equities closed in the red across the board – the S&P 500 fell 0.6%, a day after it suffered the biggest single day performance since June 2020. An uptick in weekly jobless claims and a steep decline in the Philly Fed manufacturing index helped drag

Rates jump higher as Powell reaffirms hawkish policy. Swap rates and Treasury yields jumped sharply higher today, undoing much of the recent rally and pushing the 10-year Treasury yield back towards 3%. Fed Chair Jerome Powell’s interview at a WSJ event was the main catalyst- Powell commenting that the central bank will continue to raise

Rates resume decline, but catalysts scarce. Treasury yields and swap rates continued to grind lower today, the 10-year Treasury yield ending the day 3.5bps lower to close below 2.90% at 2.88%. Equities were mixed, though tech stocks were hammered once again as the Nasdaq Composite fell 1.2% on the day. The VIX continued to moderate

Nervy week ends with higher rates, bounce-back in equities. A choppy week ended with Treasury yields and swap rates higher across the curve, once again following risk assets as nearly every developed market saw equities bounce back. The S&P 500 and Nasdaq ended the day 2.4% and 3.8% higher, though both remain firmly in negative

Rates endure another volatile session ahead of crucial inflation data. Treasury yields and swap rates ended a choppy session largely lower across a flattening curve, the 10-year Treasury yield ending the day a hair under 3% at 2.99%. While it’s far too early to see the impact of the Fed’s tightening on inflation data, any

Big risk-off move finally pulls rates lower. A dramatic risk-off move across equities and commodities gave Treasurys a significant bid today, pulling the 10-year Treasury yield lower by nearly 10 basis points  on the session. The front end of the curve saw the greatest impact, 2-year rates falling over 15 bps on the session, though

Rates gap higher as 10-year Treasury yield closes above 3% for first time since 2018. Rates jumped higher across the curve today as the Treasury market continued its choppy ways. The 10-year has now climbed over 150bps since the start of the year, and over 100bps in the last two months alone. Market commentators offered

Financial markets were largely unresponsive to the well-telegraphed 50bps hike by the FOMC, but volatility ensued in the press conference afterward when Fed Chair Powell struck down the idea of a 75bps hike at a future meeting. Leading up to today, market futures had priced a high likelihood of a 75bps hike at the June

After moving 10+bps in 24 of the past 32 trading sessions, yields/rates held within a steady range today as financial markets eagerly await tomorrow’s Fed decision and press conference following. The 10-year UST yield finished marginally lower, holding below the 3% level touched yesterday. Equity markets were similarly quiet, major indices shifting between small/gains losses

US financial markets had another volatile day today, highlighted by the 10yr UST briefly crossing the 3% psychological threshold for the first time since 2018. This week is important as one we’ve had in rates markets in quite some time, featuring much-anticipated comments from the Fed following a nearly guaranteed 50bps hike on Wednesday and