Monday, 04 March, 2024

Fed’s Bostic: No urgency to cut interest rates given US economy’s strength – Reu

Fed’s Bostic: No urgency to cut interest rates given US economy’s strength – Reuters News 04 Mar 2024 17:00:00 By Howard Schneider WASHINGTON, March 4 (Reuters) – The U.S. Federal Reserve is under no urgent pressure to cut interest rates given a “prospering” economy and job market, Atlanta Fed President Raphael Bostic said in remarks that highlighted the risk inflation may get stuck above the central bank’s 2% target or be sent higher by “pent-up […] Read More

Thursday, 29 February, 2024

Post PCE Equities in focus:

Post PCE Equities in focus: While the street turns myopic focus to today’s Core PCE data – the most important inflation read since the last inflation reading – we look forward to tomorrow’s PMI data. Last month, the aggregate Global manufacturing PMI started to turn, having spent a year in a bottoming phase of contraction. – The JPM Global Manufacturing PMI hit 50-expansionary territory for the first time since the start of 3Q22. – The […] Read More

Tuesday, 27 February, 2024

*BOE’S RAMSDEN SAYS CAN’T TAKE STABILITY FOR GRANTED

*BOE’S RAMSDEN SAYS CAN’T TAKE STABILITY FOR GRANTED *BOE’S RAMSDEN SAYS STARTING TO NORMALIZE BALANCE SHEET https://www.bankofengland.co.uk/speech/2024/february/david-ramsden-keynote-address-at-association-for-financial-markets-forum Read More

Friday, 23 February, 2024

Where mortgage stress is on the rise

Where mortgage stress is on the rise For all the back-slapping about the absence of a recession and assuredness around a soft landing, this cycle is not yet over. Christopher Joye Columnist This column has been banging the table relentlessly about the fact the path for global services inflation will determine what happens to asset prices in 2024. The argument has been that most of the improvement in the inflation pulse has been an artefact […] Read More

Friday, 23 February, 2024

Goldman Pushes Back Bet on First Fed Interest-Rate Cut to June

Goldman Pushes Back Bet on First Fed Interest-Rate Cut to June2024-02-23 06:49:02.283 GMT By Malcolm Scott(Bloomberg) — Goldman Sachs Group Inc. economists havepushed back their view on when the Federal Reserve will begincutting interest rates to June after parsing recent commentsfrom the central bank and minutes of its January meeting.The US investment bank has dropped its forecast for a Maycut and now expects four reductions this year, versus fivepreviously, with moves in June, July, September […] Read More

Wednesday, 21 February, 2024

{US} UBS now sees Fed starting to cut rates in June

{US} UBS now sees Fed starting to cut rates in June UBS has updated its predictions for when the Federal Reserve will start cutting interest rates, moving the expected timing from May to June. Consequently, the broker now projects a total reduction of 75 basis points (bps) in interest rates for 2024, a decrease from its earlier estimate of 100 bps. Read More

Wednesday, 21 February, 2024

Barclays – on UST rolls

BARX on the UST ROLLS Asset manager positioning shifts and relative value are important for the upcoming Mar24 to Jun24 roll cycle, Andres Mok and Amrut Nashikkar note. The TY, US and WN all feature potential CTD switches, while the wild card in WN “will not be in effect in the afternoon of the March FOMC meeting.” Bearish TU: Asset manager net long positioning has been largely unchanged since last roll. Relative cheapening of the front CTD “imparts a […] Read More

Monday, 19 February, 2024

OpenAI have completed a tender offer deal with Thrive Capital

THE AI’S HAVE IT: OpenAI have completed a tender offer deal with Thrive Capital, allowing employees to cash out, which values the company at $80bn+ (vs similar deal early last year which valued it at $29bn). Just the 40x sales then, pretty standard these days. In terms of hype vs reality, interesting to see another article (Sunday Times (https://www.thetimes.co.uk/article/ai-mania-is-cooling-as-silicon-valley-plays-the-long-game-3pnr00ptd}) debating the actual corporate take-up (ie: monetisation) of the gargantuan AI spending going on. Follows on […] Read More

Monday, 19 February, 2024

Fixed Income Market Review – January 2024

  Strategic Shifts for Investors as Interest Rates Cycle nears end Anticipating a… ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏  ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏  ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏  ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏  ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏  ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏  ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏  ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏  ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏  ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏  ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏  ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏  ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏  ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏  ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏  ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏  Newsletter on LinkedIn Fixed Income Market Review Market insights from the team at Jamieson Coote Bonds Jamieson Coote Bonds See what others are saying about this topic: Open on Linkedin Fixed Income Market Review – January 2024   Strategic Shifts for Investors as Interest Rates Cycle […] Read More