EDV News and Press, Vanguard Extended Duration Treasury From 04/19/24

2024-04-19 02:15:00 ET Summary The March CPI release was, in retrospect, the one that apparently convinced the Fed and the market that "disinflation has stalled." "Higher for longer" is now the interest rate mantra that is driving the market; it's made people nervous, so an equity...

2024-04-18 14:00:00 ET Summary Recent trends indicate a resurgence in bond implied volatility on a global basis, with U.S. interest rates leading the charge. Currently, U.S. rates are at their highest level of the year, and have returned to current-cycle highs of last year across ...

2024-04-18 06:00:00 ET Summary Bowing to recent data, Federal Reserve Chairman Jerome Powell on Tuesday conceded that inflation progress has stalled and the case for rate cuts has weakened. The Treasury market has been effectively making the same case for weeks, but when the top c...

2024-04-18 04:00:00 ET Summary Although no rate cuts yet, the Federal Reserve is considering reducing the pace of quantitative tightening (QT). The Fed’s ultimate goal is to have only Treasuries on its balance sheet. The reduction in the Fed’s securities holdings...

2024-04-17 08:45:00 ET Summary Economic reflation is becoming the next bullish narrative as equity valuation increases continue to outpace earnings gains, at least according to Goldman Sachs and Tony Pasquariello. Interest rates, gold, and commodity prices have increased in the pa...

2024-04-17 05:00:00 ET Summary Inflation cooled substantially last year, but upside surprises in early 2024 for the US and Europe have many investors concerned that the path back to normal has hit a roadblock. Fighting inflation is a long game, and global central banks seem to be ...

2024-04-17 04:00:00 ET Summary The FOMC has been using a varied set of targets for monetary policy, but the relevance of these data points is questioned. The FOMC has shifted away from specific metrics and adopted a more ambiguous strategy, focusing on caution and confidence. ...

2024-04-16 10:30:00 ET Summary The rise in rates last week pushed the 10-year to its highest level since the peak at 5% in October of last year. Gold has been setting new highs, trading above $2400 at one point on Friday before succumbing to some profit taking. Year-to-date, t...

2024-04-16 05:20:00 ET Summary In the wake of last week’s hotter-than-expected consumer inflation data for March, the implied forecast via Fed funds futures indicates that interest rate cuts are unlikely in the months ahead. The policy-sensitive US 2-year Treasury yield has...

2024-04-16 03:39:00 ET Summary Remarkably strong retail sales numbers for March contradict somewhat weaker survey and credit card spending evidence. But with jobs, inflation, and activity all beating expectations, the Federal Reserve is in no position to carry through with interes...