AGZ News and Press, iShares Agency Bond From 12/19/23

2023-12-19 05:30:00 ET Summary The recent rally in the stock market flowing from what almost appeared to be a victory lap on the part of Fed Chair Jerome Powell gives the impression inflation has been vanquished. Many market pundits have taken this to mean upward momentum is not r...

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2023-12-16 00:40:00 ET Summary The Fed and markets agree that rate cuts are coming, but less so on exactly when. Rather than being time-dependent, the Fed will remain data-dependent, likely requiring the U.S. economy to show distinct signs of slowing before they can feel confident...

2023-12-15 10:40:00 ET Summary Unemployment fell to 3.6% in March 2022. Now it’s 3.7%. If it’s still relatively low in March 2025, and if inflation has fallen close to the Fed’s 2% target, then the US will have achieved its first ever soft landing. In the ...

2023-12-15 09:08:00 ET Summary But in the last six weeks, interest rates have plummeted on expectations of lower inflation and an easier Federal Reserve in 2024. It all begs the question – was 5% the peak? The last few years have felt like a lifetime, but it’s intere...

2023-12-15 07:55:00 ET Summary A majority of analysts and investors clearly expected Powell to push back against bolstered expectations of early interest rate cuts. While some frustration with market volatility is understandable, ignoring the economic impact of financial condition...

2023-12-15 05:30:00 ET Summary The FOMC began its December 12–13 meeting with some good news on both the labor front and on inflation. As for the labor market data, job creation is down somewhat from the previous year; but the market has been steady and moderate. GDP gr...

2023-12-15 03:30:00 ET Summary The inverted yield curve remains anomalous. The dollar’s weakness against emerging market currencies mostly reflected monetary policy differences. The bear case for high yield has been based on credit spreads. Structured credit valuati...

2023-12-15 00:02:00 ET Summary Inflation has declined over the last few months, following an uptick in August. FOMC members revised their projections of output growth, inflation, and the federal funds rate. With inflation falling faster than previously anticipated, FOMC member...

2023-12-14 22:50:00 ET Summary As expected, the US Fed did not hike yesterday and held its policy rate at a 22-year-high while signalling rate cuts to start in 2024. Optimism makes sense for government bonds, which become more valuable as rates fall and risk aversion rises. Ce...