The Laborious March to Fed Cuts
December 11, 2023 — Labor market resilience has been a prime factor in the strength of the US economy in 2023 and an important input into the timing of Fed rate cuts in 2024. The slate of labor data released last week painted a picture of a slowing job market, with the longer-term trend of unemployment and job openings converging to pre-pandemic levels. However, the message was mixed when it came to the pace of a labor slowdown, which inserts some uncertainty into the FOMC’s deliberations this week regarding rate policy for 2024.
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Fixed Income
Fedspeak Lifts Markets
December 4, 2023 -- Last week, one of the most hawkish members of the FOMC sowed the seeds for a Fed pivot in 2024, and markets responded accordingly. . .
Fixed Income
Issuance and Inflation Concerns Abate, Providing Relief for Bonds — Fixed Income Outlook in 5 Charts
November 22, 2023 -- Bond markets found some relief in recent weeks as the Treasury’s bond issuance calendar signaled their intention to slow the pace of issuance versus . . .
Fixed Income
Bond Markets Rejoice as Inflation Moderates
November 20, 2023 -- Last week produced a flurry of inflation data points, and the bottom line is that inflation is moderating but . . .