UBT News and Press, ProShares Ultra 20+ Year Treasury From 07/05/23

2023-07-05 03:30:00 ET Summary Like other central banks, the Fed should reinforce its higher for longer message in today’s minutes. We’re not sure longer-dated rates should care, but even 5Y5Y rates trade like policy divergence is here to stay. Services PMI for E...

2023-07-04 07:15:00 ET Summary Inflation is past its peak, but it is set to remain a lot higher for a lot longer than initially anticipated. The burden of bringing down inflation falls on the shoulders of independent and inflation-targeting central banks, who are price-takers of g...

2023-07-04 01:50:00 ET Summary The yield curve, as measured by the 2-year note and 10-year note (Treasury yields) have gotten more inverted of late, registering at -106 basis points (bps) at last count. Even at that, many bond experts are saying that we are still in “lucky&...

2023-07-03 22:27:00 ET Summary Central banks are finding it hard to finish the long journey toward inflation normalization, but we believe that policy rates are likely at or near their peaks - and could be maintained at elevated levels for some time. With roughly 500 basis points ...

2023-07-03 20:59:00 ET Summary Japanese yen and Chinese yuan have seen some depreciation, given their more accommodating policies. The euro has been settling into a trading range against the U.S. dollar, thanks to the mixed picture on inflation and the pace of rate increases. ...

2023-07-03 18:39:00 ET Summary Growth stocks were the big winners as the market for most of the first half was trying to price in rate cuts before the end of the year. Lower rates are seen as positive for high-multiple growth stocks and with a dash of artificial intelligence throw...

2023-07-03 13:54:00 ET Summary The latest data from the Bureau of Economic Analysis (BEA) shows that inflation is slowing. Although headline inflation has fallen, Fed officials are concerned about core inflation, which excludes volatile food and energy prices and is thought to be ...

2023-07-03 10:38:00 ET Summary Despite hawkish policymakers and very mixed economic data, the approaching plateau in rates brings more clarity and conviction to our fixed income views. The peak in rates will come as a relief for some, but if they stay at high levels it will keep t...

2023-07-03 09:30:00 ET Summary Powell talks tough on the inflation fight two weeks in a row without persuasive evidence that the Fed needs to do more. Threatening rate increases or actually implementing them does not mean the Fed is removing the liquidity punchbowl. The market...

2023-07-01 00:25:00 ET Summary The consensus opinion is inflation will fall to the 3% range or lower within 18 months or so. The data does not support this thesis. The greatest risk for investors is placing a bet that rates will fall when history does not support this outcome. ...