Market Commentary

Today is the commencement of the two-day FOMC meeting.   I have been in the industry for 3 ½ decades and this is the first time that I can remember a FOMC meeting that has had such a

Almost one year to the day after the Federal Reserve launched its biggest rate hiking campaign in decades, all are trying to guess the central bank’s next step as

Equities surged on reports, which later proved to be correct, that major banks are in talks to bolster First Republic Bank.  Short dated Treasuries fell in

At one time yesterday, the two-year Treasury—or the instrument most sensitive to monetary policy– was experiencing another 8 standard deviation move, the second such occurrence in

February’s jobs data is released at 8:30.   How close are analyst’s projections?  How much will January’s statistics be revised?  The current spate of volatility that has

The data is continuing to exceed expectations suggesting the economy is still accelerating even after the most aggressive Fed in several generations.  This view was acknowledged by

The recent volatility commenced with January’s unemployment data that far exceeded anyone’s estimates by a large factor.  All are expecting revisions in the

Longer date bond yields appear to be realizing that inflation is perhaps here to stay.  Term premium—essentially

Federal Reserve officials said interest rates will need to increase further and stay elevated into next year to curb inflation showing

The month has ended with the financial landscape looking rather different than the end of January.  Just four weeks ago, disinflation was