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Markets Climb as Fed Shifts

Kevin Warsh’s Senate Banking Committee confirmation hearing for Federal Reserve Chair on April 21 placed the central bank’s upcoming leadership

April 2026 Monthly Bond Market Review

Recent economic data point to moderating growth alongside rising inflation pressures, as the U.S.-Israeli military campaign against Iran that began

Geopolitics Shape Markets, Fed Watch

Geopolitical headlines continue to materially impact market sentiment, and the latest news flow has been constructive. Israel and Lebanon agreed

March 2026 Monthly Bond Market Review

February economic data continued to reflect the measured disinflationary progression that has characterized conditions throughout the post-pandemic normalization cycle, with

2/26– Weekly Economic Highlights

Treasury yields climbed this week, with the 10-year Treasury yield rising roughly 12 basis points from last Friday to 1.45% (up 54 basis points year-to-date), and the 5-year Treasury yield rising 19 basis points week-over-week to 0.77% (up 41 basis points year-to-date), at the time of this report. Meanwhile, the short end of the Treasury yield curve remains anchored near 0.0%, driven by ongoing accommodative monetary policy. The ICE BofA MOVE Index (a measure of U.S. Treasury yield volatility) jumped more than 20% week-over-week, to its highest level since last April. The spread between 2-year Treasury yields and 10-year Treasury yields has widened to 131 basis points from 54 basis points in the last six months. We believe the continued steepening of the Treasury yield curve is consistent with an improving economic outlook, more widespread vaccine distribution, the anticipation of ongoing fiscal stimulus, and a pick-up in inflation.

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