Insights & News - EFGAM New Capital

Infocus - Thinking about yields and yield curves

Many investors have been caught off-guard by the recent rise in bond yields. From early May to the time of writing (26 September), the yield on the 10-year US Treasury bond has increased by around 120bps of which a third of the move occurred in September alone. This has translated into a capital loss of about 8% since early May and over 3% in September. With inflation coming down and the Fed signalling that it is close to the end of its hiking cycle, such moves are perhaps surprising.

29 September 2023

MFN - BoE surprises markets by leaving rates on hold

The BoE surprised markets last week after the Monetary Policy Committee (MPC) voted, with a narrow majority of 5 votes to 4, to keep its policy rate unchanged at 5.25%. Economist Joaquin Thul looks at the reasons behind the BoE’s decision and the outlook for interest rates.

26 September 2023

MFN - FOMC September Meeting

Yesterday’s Federal Open Market Committee (FOMC) meeting saw the Federal Reserve stay on hold, as had been widely anticipated. However, the hawkish tone in the post-FOMC meeting press conference was a surprise, as were changes to the Fed’s outlook over the next few years. In this Macro Flash Note, Daniel Murray reviews the meeting and the associated projection materials.

21 September 2023

Infocus - Thinking about yields and yield curves

MFN - BoE surprises markets by leaving rates on hold

MFN - FOMC September Meeting

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