Media – Blog
November 20, 2023
Data Supports a Fed on Hold At a recent speech, Fed Chair Powell pushed back on the narrative that the Fed is done raising rates. He continues to reiterate the Fed will be reviewing monetary policy decisions “meeting by meeting” and that more data is needed to show inflation is coming
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November 7, 2023
GDP Doubled in Q3 2023 The first reading for 3rd quarter GDP came in at +4.9%, more than double the +2.1% reading in the 2nd quarter and the most in nearly two years. The US consumer continues to drive the economy forward with personal consumption rising +4%. Spending on services
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October 17, 2023
Fed Pivot Recent speeches from Fed members have signaled that the FOMC may be finished raising rates, due in part to the rise in long-term bond yields over the past month. The rise in Treasury yields has increased borrowing costs by an amount equal to or even more than a
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October 4, 2023
Treasury Yields Surge (as of 10/3/2023) September saw Treasury yields rise to the highest levels in decades. Several factors may have led to the increase, including: Higher oil prices – both Brent and WTI are reaching new highs for the year and are close to $100 per barrel. Higher-for-longer narrative
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September 18, 2023
CPI - headline spike all energy related Headline inflation had been forecasted to increase in August as a result of the highest fuel prices so far this year. So, it came as no surprise that CPI rose +0.6% in August, which marked the highest monthly increase since June of 2022.
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September 5, 2023
August Bond Yields - Up, then Down To recap, US Treasury yields rose during the first half of the month led by a variety of factors: increased Treasury supply, solid economic data, higher inflation expectations, reduced overseas demand for US government securities and Fitch’s ratings downgrade. The 10-year note reached
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August 24, 2023
Two Down, Two To Go Following July’s FOMC meeting, Fed Chair Powell repeatedly referenced the theme of data dependency and confirmed that the Fed will be focused on the two job reports and two CPI reports still to be released ahead of their September meeting. To date, we’ve seen two
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August 8, 2023
Commentary The venture debt markets got off to a historically tepid start in 2023 and continued to slow its pace through Q2. According to Pitchbook, total funding was down another 15% from the prior quarter and dropped more than 67% from the same period in 2022. As we review debt
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August 2, 2023
The Fed is 'Data Dependent', as Always As was widely expected, the Fed increased their policy rate last week by 25 basis points to a new range of 5.25%-5.50%. This level is a 22-year high and it marks the 11th time since March of 2022 that the Fed has raised their
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July 18, 2023
Soft Labor Market & Inflation Releases June’s Employment Report was released on July 7th, showing an increase in non-farm payrolls of 209,000 vs. expectations for 230,000, marking the first time that payrolls have come in below market projections in the past 15 months. Additionally, payrolls were revised downward by a
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