The FOMC statement and dot plot were viewed as somewhat more hawkish than expected. System credit growth has slowed - and the risk of a precipitous lending slowdown is rising. Read more.
The S&P500 jumped 4.0% this week, boosting the index’s two-week rally to 8.9%. UK 10-year gilt yields sank 58 bps this week to 3.78%, with yields down 116 bps from October 12th highs.
Ten-year Treasury yields jumped another 12 bps this week, with a two-week gain of 44 bps. War rages in Ukraine with no end in sight. Click here for a full update.