Month: July 2024

On Thursday, hours before the start of the presidential debate, the 10-year Treasury closed at 4.29%. Friday, the same 10-year Treasury bond closed at 4.3% and on Monday it closed at 4.48%. A two day rise of 19bps is a…

The unemployment rate is currently 4%. Pre-Covid, it was 3.5%. Moreover, eight of 12 sectors have jobless rates above their pre-Covid levels, and two sectors are very close. The labor market has fully reverted. Moreover, Pre-Covid core PCE was 1.65%,…

The Fed’s ongoing policy of Quantitative Tightening has reduced the Fed’s balance sheet from $8.5 trillion to $6.8 trillion. This decline in assets has necessarily resulted in reduced liabilities in the form of reverse repurchase agreements (RRP) and bank reserves,…