by Amruth Sundarkumar | Dec 19, 2022 | High Yield Bonds, Investment Grade Bonds, Macroeconomic news
US primary market issuances dropped further last week to $3bn vs. $9.3bn in the week prior to it with JPMorgan raising the entire amount via 3Y issuance. In North America, there were a total of 16 upgrades and 24 downgrades across the three major rating agencies last...
by Amruth Sundarkumar | Dec 16, 2022 | Credit Ratings, Macroeconomic news
US Treasuries were almost flat yesterday with the peak Fed funds rate up 1bp to 4.89% for the May 2023 meeting. Markets continue to price in the probability of a 25bp hike at the February 2023 meeting at 76%, unchanged from yesterday. US IG CDS spreads widened 4.5bp...
by Amruth Sundarkumar | Dec 15, 2022 | Credit Ratings, Macroeconomic news
US Treasuries were almost flat yesterday despite a relatively hawkish FOMC meeting where the Fed hiked rates by 50bp and guided for more hikes to come. The FOMC members expect at fed funds rate of 5.1% at end-2023. Fed Chairman Jerome Powell reiterated the they...
by Amruth Sundarkumar | Dec 15, 2022 | U.S. Federal Reserve Bank
The US Federal Reserve hiked the policy fed funds range by 50bp as expected to 4.25-4.5% in the December meeting, with a unanimous vote. The decision to hike by 50bp follows four consecutive 75bp hikes. As compared to the September meeting projections, the Fed now...
by Amruth Sundarkumar | Dec 14, 2022 | Credit Ratings, Macroeconomic news
US Treasuries rallied sharply with yields lower by 15bp on the 2Y and by 10bp on the 10Y after the US CPI inflation print for November came at 7.1%, lower than expectations for a 7.3% print. Core CPI was also softer at 6% vs. expectations of 6.1%. The peak Fed Funds...
by Amruth Sundarkumar | Dec 13, 2022 | Credit Ratings, Macroeconomic news
US Treasury yields inched higher by 2-3bp across the curve yesterday with markets awaiting the CPI inflation print today. Expectations are for the headline number to come at 7.3% YoY and Core CPI to come at 6.1% YoY for November. This may serve as an important print...
