June 2024 Market Review
Despite various conflicting economic data points, the U.S. economy continued to perform well. Consumers, the core of the economy, displayed resilience. Earnings of large public businesses behaved well relative to expectations, resulting in strong year-over-year growth and positive revisions for the rest...
May 2024 Market Review
A stabilization of economic data provided some relief for the bond market in May. The 10-year Treasury yield fell 18 basis points, ending the month at 4.48%, while the shape of the curve was relatively flat month over month. The shift in...
April 2024 Market Review
A continuation of strong economic data pushed rates higher throughout April. The 10-year Treasury yield rose by 48 basis points (bps), ending the month at 4.66%. The move reflects a repricing of market expectations of Fed rate cuts, with just one 25...
March 2024 Market Review
The basic structural and functional unit of all living organisms is the cell. It consists of many parts with each part serving a unique function. All the parts of the cell work together in a coordinated manner to maintain its structure and...
February 2024 Market Review
Renewed stress in the banking system led to a rate rally in the early days of February. However, the market quickly interpreted the issues at New York Community Bancorp to be idiosyncratic and refocused on strong macroeconomic data. The 10-year Treasury yield...
January 2024 Market Review
The 10-year Treasury yield declined as much as 30 basis points (bps) to start the year, only to rally in the final days of the month, ending January just 7 bps higher at 3.95%. The shape of the curve was relatively unchanged,...
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