5th May 2023

  • Fed Swaps Point to a Rate Cut by July, or Maybe Even June

Swaps show around one-in-four odds of a cut as soon as June

Five-year Treasury note’s yield falls to lowest level of year

https://blinks.bloomberg.com/news/stories/RU5BXAT0G1KW

  • PacWest, Western Alliance Sink as Bank Stocks’ Rout Deepens

First Horizon, TD end deal, PacWest in talks with investors

Sector has been pummeled this year amid bank collapses

https://blinks.bloomberg.com/news/stories/RU5G9NT1UM0W

  • Fed Emergency Loans Plunge After First Republic Seizure

Outstanding loans on discount window, BTFP total $81.1 billion

Fed reclassified First Republic’s borrowings after seizure

https://blinks.bloomberg.com/news/stories/RU5MJRT0G1KX

  • US Jobless Claims Rise to 242,000, Biggest Increase in Six Weeks

At same time, recurring applications fell by most since July

Separate report shows four-fold increase in job cuts this year

https://blinks.bloomberg.com/news/stories/RU4X25T1UM0W

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For more information please contact Rubrics Asset Management. info@rubricsam.com.