Rubrics Morning Comment 07.03.23 – Rubrics – Asset Management

7th March 2023

Retail Investors Grab Most Six-Month Bills in Nearly 30 Years

Noncompetitive bidders took $2.84 billion at Monday’s auction

Issue has been most vulnerable to Fed and debt ceiling risks

https://blinks.bloomberg.com/news/stories/RR3YQJT1UM0W

Debt Ceiling Anxiety Tracker: T-Bills in Limbo and CDS Elevated

Lack of clarity around crunch point means no clear bills kink

Treasury’s cash pile is dwindling and bill supply is being cut

https://blinks.bloomberg.com/news/stories/RQY6LSDWX2QA

Cleveland Fed Says Its Inflation Forecast Is Hitting the Mark

Research finds nowcasts more accurate than alternative models

Nowcast readings for CPI and PCE are updated each business day

https://blinks.bloomberg.com/news/stories/RR3X58T0AFB4

Traders See Rare Shift Where Euro-Zone Inflation Risk Tops US

Swaps show euro-area inflation above US in first since 2009

Fed outdoing ECB in aggressive moves to rein in rising prices

https://blinks.bloomberg.com/news/stories/RR49M0T0AFB4

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