Macro Horizons

Ian Lyngen, Ben Jeffery, and Jon Hill bring you their thoughts on the U.S. Rates market for the upcoming week of August 10th, 2020, and respond to questions submitted by listeners and clients.

Margaret Kerins along with Ian Lyngen, Greg Anderson, Stephen Gallo, Dan Krieter, Ben Reitzes, Dan Belton, Jon Hill, and Ben Jeffery from our FICC Macro Strategy team bring you their outlook for the USD and its status as a reserve currency, if and when the increase in money supply will translate into inflation, and the impact of the extension in the period of uncertainty due to the pandemic’s resurgence in the backdrop of massive fiscal and monetary support.

Ian Lyngen, Ben Jeffery, and Jon Hill bring you their thoughts on the U.S. Rates market for the upcoming week of August 3rd, 2020, and respond to questions submitted by listeners and clients.

Dan Krieter and Dan Belton discuss their takeaways from the July FOMC meeting. In addition, they talk about the historical impact of fiscal and monetary stimulus on credit spreads, and what it might suggest for the path of credit spreads in the current environment.

Ian Lyngen, Ben Jeffery, and Jon Hill bring you their thoughts on the U.S. Rates market for the upcoming week of July 27th, 2020, and respond to questions submitted by listeners and clients.

In this episode, Dan Krieter and Dan Belton discuss the drivers of the recent leg narrower in credit spreads, what stories have the power to move the market, and why an unattractive risk/reward profile may suggest taking profits.

Ian Lyngen, Ben Jeffery, and Jon Hill bring you their thoughts on the U.S. Rates market for the upcoming week of July 20th, 2020, and respond to questions submitted by listeners and clients.

Ian Lyngen, Ben Jeffery, and Jon Hill bring you their thoughts on the U.S. Rates market for the upcoming week of July 13th, 2020, and respond to questions submitted by listeners and clients.

Margaret Kerins along with Ian Lyngen, Greg Anderson, Stephen Gallo, Dan Krieter, Ben Reitzes, Dan Belton, Jon Hill, and Ben Jeffery from our FICC Macro Strategy team bring you their outlook for US and Canadian rates, IG spreads, and FX with the market swaying between optimism on the race for a vaccine versus the ultimate, unknown level of economic destruction in the face of re-lockdowns.

Ian Lyngen, Ben Jeffery, and Jon Hill bring you their thoughts on the U.S. Rates market for the upcoming week of July 6th, 2020, and respond to questions submitted by listeners and clients.

Ian Lyngen, Ben Jeffery, and Jon Hill bring you their thoughts on the U.S. Rates market for the upcoming week of June 29th, 2020, and respond to questions submitted by listeners and clients.

Dan Krieter and Dan Belton discuss their expectation for credit spread weakness and the various catalysts including a second wave of COVID-19, renewed stay-at-home orders, fading fiscal/monetary stimulus, and a Democratic sweep at the November Presidential election. Other topics include the potential monetary response to a sustained risk off move and the FCA’s announcement that details around the end of Libor could come as early as this year.

Ian Lyngen, Ben Jeffery, and Jon Hill bring you their thoughts on the U.S. Rates market for the upcoming week of June 22nd, 2020, and respond to questions submitted by listeners and clients.

Dan Krieter and Dan Belton answer the most frequently asked questions surrounding the Fed’s announcement to begin buying individual corporate bonds, including a discussion on what issues stand to benefit from how purchases were structured. They also discuss their view on the path of credit spreads in the near/medium term.  

Ian Lyngen, Ben Jeffery, and Jon Hill bring you their thoughts on the U.S. Rates market for the upcoming week of June 15th, 2020, and respond to questions submitted by listeners and clients.

Dan Krieter and Dan Belton discuss Wednesday’s FOMC statement and press conference including the seemingly pessimistic tone from Chair Powell, forward guidance via the SEPs, and the lack of discussion around the seemingly overdue Primary Market Corporate Credit Facilities. Other topics include the near- and longer-term view for spread markets.

Ian Lyngen, Ben Jeffery, and Jon Hill bring you their thoughts on the U.S. Rates market for the upcoming week of June 8th, 2020, and respond to questions submitted by listeners and clients.

Margaret Kerins along with Ian Lyngen, Greg Anderson, Stephen Gallo, Dan Krieter, Ben Reitzes, Dan Belton, Jon Hill, and Ben Jeffery from our FICC Macro Strategy team bring you their top line thoughts on the Treasury yield curve, Treasury’s $800 bn question, the Fed’s $1.5 trillion in Tsy coupon purchases, BoC intervention potential, and the massive retracement in credit and FX that shapes our outlook for these markets in coming months. 

Ian Lyngen, Ben Jeffery, and Jon Hill bring you their thoughts on the U.S. Rates market for the upcoming week of June 1st, 2020, and respond to questions submitted by listeners and clients.

Dan Krieter and Dan Belton discuss the rally in risk assets over the past two weeks including the three main drivers of the recovery: economic re-opening, positive news around a vaccine, and stimulus, as well as how spreads would respond to a negative turn in any of these factors. Other topics include US/China tensions and potential for long-term spread market impacts of the pandemic.