The Macro View

Posted by

US Treasuries – Treasuries surged in March, aided by the Federal Reserve’s decision on March 20th when the committee indicated that they would not raise the Fed Funds Rate for the remainder of 2019. Yields declined across the curve, with the intermediate portion of the curve experiencing the largest move down. Significant flattening occurred during… Read more »


Posted by

US Treasuries – Despite a dovish tone from the Federal Reserve, Treasuries declined during February as yields rose across the curve. The market does not expect the Federal Reserve to raise their target interest rate in 2019. The Treasury yield curve steepened slightly during the month. Municipals – Municipals continued their steady climb upwards, generating… Read more »


Posted by

US Treasuries – January brought continued strong performance for Treasuries despite a surge in equities during the month. The Federal Reserve abruptly shifted its tone, leading investors to believe that the Fed may pause their tightening cycle in 2019. Continued flattening of the Treasury curve is something to monitor as is projected Treasury issuance as… Read more »


Posted by

US Treasuries – Massive equity market volatility in December propelled treasuries to their best month of 2018 and pushed them into positive territory for the year. In December, the Federal Reserve hiked interest rates for the 4th time in 2018 and continued to maintain that the political and equity market drama would not deter them… Read more »


Posted by

Performance Snapshot: While equities have been strong through September, so too have bonds.  In fact, all domestic fixed income sectors have outperformed the S&P 500 since 10/1/2018.   Sector Summary: US Treasuries: A bounce back in stocks and diminishing headline risk caused a move out of US Treasuries, causing prices to decline and yields to… Read more »