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...

Read More

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,...

Read More

December 2023 Market Review

December 2023 Market Review Rip Van Winkle missed quite a change during his 20-year nap. If he had a relapse between January and December 2023, he would have never known the extent of surprises experienced over the year and the impact on...

Read More

November 2023 Market Review

U.S. Treasury yields fell across the curve after seven months of rising. The 10-Year yield moved 58 basis points (bps) lower, marking the most significant monthly decline since December 2008. The curve began to invert again as new economic data pointed to...

Read More

September 2023 Market Review

September 2023 Market Review Third quarter consumer spending persisted like rain in New England and heat throughout the country. July rainfall in Boston totaled about 11 inches, almost two times the 20-year average. July also set global heat records with over 90...

Read More

August 2023 Market Review

The curve steepened, with long end yields climbing to levels not seen since the fourth quarter of 2022, as the market shifted focus onto supply/demand imbalances in the U.S. Treasury market. The Treasury released issuance forecasts which came in about $1bn per...

Read More

Subscribe to Market Review

Please provide the following information to receive our monthly Market Reviews.

Request a Market Review

Complete reviews are available only upon request. Please provide the following information, and we will send you a PDF.