Rates rise ahead of Powell speech. Treasury yields and swap rates rose dramatically today as markets continued to digest Friday’s strong payrolls report. As a result, Fed Funds futures now price in only a modest pullback in rates by the end of 2023, a significant change from the 0.50% in rate cuts previously priced in. Fed

Bonds dramatically selloff after morning labor data. Swap rates and Treasury yields soared today after early session data revealed an incredibly robust labor market, with yields increasing as many as 18 bps on the short end of the curve. The move erased the Monday through Thursday bond rally, netting the 2-year yield’s move to +9 bps

Equities continue massive rally, rates grind lower once again. Swap rates and Treasury yields ended the day down just 1-3 bps across the curve after being down as many as ~10 bps earlier in the session. Equities continued to build on yesterday’s significant rally, with tech stocks again reaping most of the benefit. The NASDAQ jumped

Equities and bonds rally following FOMC announcement/presser. Treasurys were in high demand today, the 2 and 10-year yields decreasing 9-10 bps after the Fed announced their 25 bp hike and gave their press conference. Equities flourished as well after starting the session down, with Fed Chairman Powell spurring a major boost to the S&P 500 (+1.05%)

Bonds rise on eve of rate hike decision. Treasury yields fell across the curve today, the 2-year and 10-year yields falling by ~3bps to 4.20% and 3.51%, respectively. The move comes ahead of the Fed’s rate hike announcement tomorrow, with a miss in the employment cost index a main contributor. Labor costs in the U.S. increased

Stocks suffer ahead of Fed’s Wednesday rate hike. The Nasdaq-100 sold off more than it has in over a month (-2.09%), with declines in Apple and Microsoft spurring the losses ahead of this week’s earning reports from Alphabet Inc. and Meta Platforms. The move also comes ahead of this Wednesday’s rate hike decision, where a 25

Positive earnings and economic data push equities higher, bonds lower. This year’s tech rebound continued today, with the NASDAQ 100 set for its fourth straight week of gains, the longest streak since August. The move came as positive outlooks from Tesla and Meta Platforms overshadowed pessimistic forecasts from Intel, Microsoft, and Texas Instruments. Furthermore, December’s core

Equities rise, bonds sell-off. Markets adopted a risk-on sentiment today, as the S&P 500 and NASDAQ climbed 1.10% and 1.76%, respectively, while Treasurys fell. The move came amid the release of mixed data, including personal consumption and durable goods orders. Durable goods orders came in at 5.6% after being forecasted at 2.5%, a major increase from

Earnings season produces another risk-off day. Equities sold off as market participants continued to digest reported earnings results.   Today, it was Microsoft’s sales warning that sent stocks lower across the board, though they did moderate into the close. While equity indices nudged lower during the session, the S&P 500 is still on track for its best

Treasurys rally, equities mixed as earnings season rolls on. Swap rates and Treasury yields took a slight hit today, the 2-year and 10-year yields falling by ~2bps to 4.21% and ~6bps to 3.45%, respectively. The move came as companies continued to report earnings, headlined by Microsoft and Texas Instruments. Among major equity indices, the S&P 500