Market Commentary

Considerable attention has been focused upon the carnage in the Treasury market.  The implosion in the $10 trillion corporate bond market is perhaps

Will geopolitical issues become the predominant market narrative?  Until Friday the Middle East was only a conversation having limited market impact.  War is perhaps the most unquantified event of

The PPI rose more than forecast in September, bolstered by higher energy and food costs that continue to wrinkle the path toward sustainably lower inflation.  The data suggests the economy still has not seen the

Equities rose and Treasury yields fell after comments from Fed officials bolstered speculation the central bank is heading toward another pause in interest rate hikes.  Oil edged lower, following its

Wow!  September’s jobs data was extremely strong.  August’s data was revised considerably higher.  The statistics blew past all estimates by a wide margin as employers added 336,000 jobs in

The number of available positions increased to 9.61 million from an upward revised 8.92 million in July according to the Job Opening and Labor Turnover Survey (JOLTS).  The level of openings topped all estimates in

Treasury yields continued to rise as the ISM Manufacturing Index posted the highest reading since November, exceeding all forecasts in a Bloomberg survey.  The September index was bolstered by the

The Federal Reserve’s preferred measure of underlying inflation rose at the slowest monthly pace since late 2020, helping to lay the groundwork for policymakers to forgo an interest rate hike at

The Treasury conducted the auction for the 7-year Treasury which printed the highest auction yield since 2009; 4.673%.  The auction was “relatively well received” just as the

Long term Treasuries continued to climb higher with surging oil prices partially to blame.  Oil is at the highest levels in a year as inventories fell below a critical level.  There are few options to combat the unrelenting