December 2021 – Bond Market Review
Inflation readings continue to run hot, but market-based inflation expectations remain relatively contained and we believe inflation may be at or near a peak. We expect supply chain bottlenecks will continue to put upward pressure on prices over the near-term but should improve next year.
November 2021 – Bond Market Review
Real US gross domestic product (GDP) growth decelerated in the third quarter amid widespread supply chain disruptions and a surge in the Covid Delta variant, but we believe economic activity has reaccelerated modestly in the current quarter.
October 2021 – Bond Market Review
The ongoing health crisis and related supply chain bottlenecks continue to have a meaningful impact on economic data, but we believe the underlying momentum of the economy remains strong.
September 2021 – Bond Market Review
While we believe the economy continues to grow at an above-trend pace, some economists have tempered their expectations for US real gross domestic product (GDP) through year-end.
August 2021 – Bond Market Review
The Federal Open Market Committee (FOMC) kept monetary policy unchanged in July. The fed funds target rate remains in the range of 0.0% to 0.25%, and the Fed continues to purchase $80 billion of Treasuries per month, and $40 billion of agency mortgage-backed securities per month.
July 2021 – Bond Market Review
The Federal Open Market Committee (FOMC) kept monetary policy unchanged in June. The Fed has started to discuss the idea of reducing its asset purchases at some point, but that decision remains uncertain. FOMC members’ updated economic projections also suggest that the Fed may start to raise interest rates in 2023.
June 2021 – Bond Market Review
Estimates for US gross domestic product (GDP) growth this year have been revised higher. The current Bloomberg consensus estimate for 2021 US GDP growth is 5.5% (following a 3.5% decline last year). Although the labor market is still a long way from a full recovery, robust fiscal support should help support the economy in the […]
May 2021 – Bond Market Review
3/26– Weekly Economic Highlights
April 2021 – Bond Market Review
Estimates for US gross domestic product (GDP) growth this year have been revised higher. The current Bloomberg consensus estimate for 2021 US GDP growth is 5.5% (following a 3.5% decline last year). Although the labor market is still a long way from a full recovery, robust fiscal support should help support the economy in the […]
March 2021 – Bond Market Review
Estimates for US gross domestic product (GDP) growth this year have been revised higher. The current Bloomberg consensus estimate for 2021 US GDP growth is 5.5% (following a 3.5% decline last year). Although the labor market is still a long way from a full recovery, robust fiscal support should help support the economy in the […]