Rubrics Morning Comment 03.10.23 – Rubrics – Asset Management

3rd October 2023

Bond Rout Lifts US Yields to Multiyear Highs to Open New Quarter

Five- to 30-year yields rise more than 10 basis points on day

Expectations for another Fed rate increase edge higher

https://blinks.bloomberg.com/news/stories/S1WSH6T1UM0W

Barr Says Fed Likely At or Very Near Sufficient Restrictive Rate

Agree with Powell that Fed can proceed carefully, Barr says

Barr says he’s highly attuned to risks to both Fed mandates

https://blinks.bloomberg.com/news/stories/S1WXXVT0G1KW

Fed’s Mester Says One More Rate Hike May Be Needed This Year

Final rates call and how long Fed holds to depend on economy

Risks include China slowdown, UAW strike and possible shutdown

https://blinks.bloomberg.com/news/stories/S1XFQUT1UM0W

US Factory Gauge Contracts at Slowest Pace in Nearly a Year

ISM index increased to 49 in September, topping estimates

Production, orders expanded by most in more than a year

https://blinks.bloomberg.com/news/stories/S1WONRT0G1KW

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