Rubrics Morning Comment 06.02.24 – Rubrics – Asset Management

6th February 2024

Treasuries Suffer Large Two-Day Loss as Fed Message Sinks In

Yields have risen more than 20 basis points since Thursday

For 10-year, two-day increase is biggest since June 2022

https://blinks.bloomberg.com/news/stories/S8EDP0DWRGG0

Fed Says Banks Tightened Credit Standards in Fourth Quarter

Some 14.5% of banks tightened loan standards, least since 2022

Demand picture for loans, while still weak, improved somewhat

https://blinks.bloomberg.com/news/stories/S8EDEZDWX2PS

Fed’s Goolsbee Says More Good Data Needed Before Starting Cuts

Chicago Fed president did not explicitly rule out March cut

Need to get more inflation data like we’ve gotten, he says

https://blinks.bloomberg.com/news/stories/S8DZILDWRGG0

Gross Places Derivative Bet on Yield Curve Turning Less Inverted

Former Pimco chief flags SOFR-contract trades on social media

Joins those betting on a steeper curve as Fed eyes cuts

https://blinks.bloomberg.com/news/stories/S8E8EFDWLU68

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