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Long-term Rates Little Changed, Remain 20 Bps Below Recent Highs

Treasury yields and swap rates rise on the day, remain 20+ bps below recent highs Treasury yields and swap rates rose marginally in an otherwise quiet session, the 10-year Treasury yield rising 2 basis points to close at 1.60%. While rates were higher on the day, they remain sharply below recent highs, having fallen nearly
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Stock Rally Relentless as Inflationary Fears Subside

Another day, more record highs for equities Strong corporate earnings, housing, and consumer sentiment data reported today fueled yet another rally in stocks, with the S&P 500 and DJIA closing at record highs, up 0.48% and 0.36%, respectively. US Treasurys also saw strong gains throughout the week, with the 10yr yield declining 8bps to 1.57%.
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Strong Economic Data Sends Stocks Soaring; Yields Fall

Retail sales and jobless claims send stocks to record highs Strong beats in both March retail sales (9.8% actual vs. 5.8% expected) and initial jobless claims (576,000 actual vs. 700,000 expected) helped fuel all three major equity indices to close at record highs, with the Nasdaq rising 1.61% on the day. The uncertainty around vaccination
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S&P Drops from Record Highs as Earnings Season Kicks Off

Tech shares halt another S&P record Record profits within some of the largest investment banking businesses in the U.S. were not enough for the S&P to close at another record high, as declines in tech stocks weighed on major indices. On the economic data front, the Fed’s beige book release showed the economy continues to
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CPI and J&J Can’t Derail Stocks Record Highs

Equities and Treasurys rally Equities resumed their trek to record-breaking highs while U.S. Treasurys rallied on inflationary data and vaccine news. The CPI came in slightly above expectations, increasing 2.6% YoY (+2.5% expected), but it wasn’t enough for investors to view inflation as an immediate risk to equities, with the S&P closing on a record
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Treasury Auctions Stable as Equities Drop from Record Highs

Investors quietly await earnings season The U.S. Treasury auctions in 3yr and 10yr debt showed investors still have an appetite for government debt, which led yields to increase only slightly on a flattening curve. The 10yr closed 2bps higher on the day to 1.67%. All three major equity indices closed down from their records highs
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March PPI Reading Pushes Treasury Yields Higher

Rates rise following surprise PPI reading March’s headline PPI figure beat estimates, fueling market expectations of high inflation.  Treasury yields and swap rates bounced back after falling for several days, closing 1-5 bps higher across the curve – the 10-year closed nearly 4 bps higher at 1.65%.  Equity indices ended the week in the green
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Treasury Yields Continue to Move Lower Across the Curve

Treasury yields continue to fall across the curve Earlier today, Fed Chair Jerome Powell dispelled concerns of runaway inflation, which had played a part in fueling the recent frantic selloff.  Following his comments and a surprise uptick in jobless claims, Treasury yields and swap rates fell 1-6 bps across the curve – the 10-year closed
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Treasury Yields Mixed After Fed Re-Affirms Commitment to Accommodative Monetary Policy 

Muted response from financial markets following March FOMC minutes release Treasury yields/swap rates finished mixed across the curve after spending most of the session lower – the 10-year UST yield almost 2 bps higher at 1.67%.  Major US equity indices held near even on the day as investors continued to weigh myriad factors such as
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Rates and Equities Fall in Quiet Session

Rates retrace gains, stocks fall on low volume Treasury yields and swap rates lower fell on a relatively quiet day, the 10-year yield retracing its recent gains to 1.65%.  Major equity indices also closed lower on the day – the S&P 500 and DJIA falling 0.1% and 0.3%, respectively on the lowest volume day of
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