BILS News and Press, SPDR Bloomberg Barclays 3-12 Month T-Bill From 08/08/22

Compounding interpretation of the data now is the issue of the pandemic and the consequences of an ill-advised global economic shutdown. Some economists contend two quarters of negative GDP alone is not a sufficient indication of a recession. Certainly, some market sectors and ind...

Two economic reports from last week, attempting to measure essentially the same thing, reported results that were so different they could be about two different countries. The rising rate, rising dollar environment is intact. The 10 year Treasury rate is in a short-term downtrend but ...

SPDR Bloomberg 3-12 Month T-Bill ETF ( BILS ) - $0.1310 . 30-Day SEC Yield of 1.56% as of Aug. 01. Payable Aug 05; for shareholders of record Aug 02; ex-div Aug 01. For further details see: SPDR Bloomberg 3-12 Month T-Bill ETF declares monthly distribution of $0....

Muni debt is mostly owned by tax-paying Americans, and their preferences determine the market prices of the debt. Trillions in derivatives are tied to Treasury debt structures and are part of global transactions that ignore the yield curve outlook and trade against the Treasury yield ...

Last week saw some dramatic moves with TTF futures for European delivery of EU natural gas trading at a weekly high of EUR 228 per megawatt-hour before settling in about 15% off that high. Natural gas is not as fungible as oil. It is true that there is an LNG market, but unfortunately...

Central banks in major economies expected as recently as a few months ago that they could tighten monetary policy very gradually. Central bank actions and communications about the likely path of policy have led to a significant rise in real (inflation-adjusted) interest rates on gover...

Inflation is still high, but it is no longer accelerating rapidly, and evidence of increasingly fragile economic activity is piling up. The headline surveys have weakened materially, especially in Europe, and the US economy entered a technical recession in the first half of the year. ...

On Thursday the Fed raised rates by another 75bps and reiterated its commitment to Quantitative Tightening. Over the last two months, the balance sheet has fallen by $25B vs. a target of $95B. The upcoming reductions will be too little too late to have any meaningful impact on red...

The 2-10 spread has been inverted for a while, and if the Fed is hell-bent on front-loading rate hikes this summer, the 3-month/10-year Treasury spread will invert soon. The Federal Reserve can cause a recession with rapid rate hikes in an economy that carries way too much financial l...

Consumer spending, industrial output, credit quality, and other indicators don’t suggest economic risk. The reduction of the deficit will contribute to the building of recessionary pressures. The best signals of a recessionary onset occur when a bulk of the yield spreads tu...