Macro Horizons

Ian Lyngen, Ben Jeffery, and Jon Hill bring you their thoughts on the U.S. Rates market for the upcoming week of September 30th, 2019, and respond to questions submitted by listeners and clients.

Dan Krieter and Dan Belton discuss the recent repo market volatility including its causes and the Fed’s response. What do the Fed’s repo operations imply for the repo market going forward and how do they compare to a standing repo facility? While spreads are likely to trade range-bound in the next few weeks, they discuss their expectations for wider credit and swap spreads in Q4.

Ian Lyngen, Ben Jeffery, and Jon Hill bring you their thoughts on the U.S. Rates market for the upcoming week of September 23rd, 2019, and respond to questions submitted by listeners and clients.

Margaret Kerins along with Jon Hill, Ian Lyngen and Dan Krieter discuss the developments of the last couple days; not least of which includes the effective Fed funds rate setting this morning at the top of the target range (2.25%). Will the Fed announce a standing repo facility tomorrow? Cut Interest on Excess Reserves? This is a live recording of a client conference call held on 9/17/19 at 1pm eastern.

Ian Lyngen, Ben Jeffery, and Jon Hill bring you their thoughts on the U.S. Rates market for the upcoming week of September 16th, 2019, and respond to questions submitted by listeners and clients.

Margaret Kerins with Michael Gregory, Ian Lyngen, Jon Hill, Ben Jeffery, Greg Anderson, Stephen Gallo, Dan Krieter and Dan Belton bring you their thoughts on the looming flashpoints that frame their outlook through year-end.

Ian Lyngen, Ben Jeffery, and Jon Hill bring you their thoughts on the U.S. Rates market for the upcoming week of September 9th, 2019, and respond to questions submitted by listeners and clients.

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of September 3rd, 2019, and respond to questions submitted by listeners and clients.

Dan Krieter and Dan Belton discuss why high quality credit spreads are unlikely to widen in the near term as technicals in both Treasury and spread markets remain very supportive.  However, they also highlight a few fundamental drivers of spread market weakness that could overwhelm supportive technicals and push spreads wider in the 4thquarter: the ongoing trade war, absolutely spread levels, an inverted yield curve, seasonality, risk emanating from Europe, and what is now expected to be a messy year-end episode after the July FOMC minutes drastically reduced the odds of a Fed repo facility in 2019.

Ian Lyngen, Ben Jeffery, and Jon Hill bring you their thoughts on the U.S. Rates market for the upcoming week of August 26th, 2019, and respond to questions submitted by listeners and clients.