Macro Horizons

Dan Krieter and Dan Belton discuss how the events of the past week alter their views on credit into year-end and early next year. Topics include whether the Fed’s messaging last week constitutes a pivot, improving primary markets, and the likely path of market technicals into the end of the year.

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of October 24th, 2022, and respond to questions submitted by listeners and clients.

Dan Krieter and Dan Belton discuss their outlook for credit spreads into year-end and their expectations for the cycle peak in spreads. Topics include possible remedies to credit market illiquidity and the implications of a strong consumer on the likely path of Fed policy.

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of October 17th, 2022, and respond to questions submitted by listeners and clients.

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of October 11th, 2022, and respond to questions submitted by listeners and clients.

Margaret Kerins along with Ian Lyngen, Ben Reitzes, Greg Anderson, Stephen Gallo, Dan Krieter, Dan Belton and Ben Jeffery from BMO Capital Markets’ FICC Macro Strategy debate the impact of heightened uncertainty and decreased liquidity on their outlook for US and Canadian Rates, IG credit, and foreign exchange. The market continues to grapple with slowing economies in the US and abroad versus the Fed’s ability to maintain its unwavering resolve to contain inflation at any cost. Volatility remains front and center with daily swings in US rates of 20 bp or more becoming a regular market event.

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of October 3rd, 2022, and respond to questions submitted by listeners and clients.

Dan Krieter and Dan Belton discuss the recent volatility in credit and swap spreads including their year-end targets for credit spreads. Other topics include whether swap spreads can continue to narrow from here, why credit had been so resilient until this week, and the impact of central bank intervention on credit and swap spreads.

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of September 26th, 2022, and respond to questions submitted by listeners and clients.

Dan Krieter and Dan Belton discuss their takeaways to the September FOMC meeting and what it means for credit. Topics include the evolution of the SEPs, how the possibility of a soft landing has changed, and the reaction in risk assets to the press conference.