Debt cap fears are beginning to be manifested in short term Treasuries. Yesterday the government sold one-month bills at the highest level in many years underscoring just how quickly the debt ceiling landscape has shifted in the wake of
As widely anticipated, the Federal Reserve raised interest rates by a quarter percentage point and hinted it may be the final move in the most aggressive tightening campaign since
The risks that a political impasse will force the government to renege on its obligations keep rising with no negotiations or progress. Worse, it appears both
Markets were rather uneventful yesterday. Will this soon change? Both the Federal Reserve and the ECB will make monetary policy decisions and give signals as to
Tuesday commences a two-day FOMC meeting. Consensus is expecting the Central Bank to increase the overnight rate by another 25 bps. It is the post meeting statement that is
First quarter real GDP rose by 1.1%, lower than the consensus view of 2.0%. The internals, however, presented an entirely different view. Final sales to domestic purchasers, which take out
Today’s release of first quarter growth and tomorrow’s posting of the PCE or the Federal Reserve’s preferred measure of inflation are projected to
Last week equites were relatively subdued. Will volatility increase this week given the multitude of high-profile technology companies reporting? META, MSFT, AMZN and GOOG all
Equites fell and bonds rose after a surprise decline in a business outlook reading and some softening in the labor market. The market also continued to
The change in Fed expectations is incredible. Two weeks ago, the market was pricing in a chance of rate cuts as early as
