Rubrics Morning Comment 10.01.24 – Rubrics – Asset Management

10th January 2024

Bond Traders Pile Into Short-Term Wagers Targeting Higher Yields

Strong appetite for bearish wagers that expire in just days

Meanwhile Hedge fund net SOFR long cut for third week in a row

https://blinks.bloomberg.com/news/stories/S70AIYDWRGG0

Pimco Predicts Equity-Like Returns From Bonds Even After Rally

Six- to 12-month outlook no longer favors duration extension

Yields near 15-year highs create ‘array of opportunities’

https://blinks.bloomberg.com/news/stories/S702F7T1UM0W

Markets Get Ready for Risk-Free Fed Arbitrage Trade to Expire

Bank funding facility established as ‘emergency program’: Barr

Use reached record $141 billion, according to latest Fed data

https://blinks.bloomberg.com/news/stories/S70DHEDWX2PS

Fed’s Barr Signals Emergency Loan Program Won’t Be Extended

Vice chair says that he expects use to continue until March 11

Fed’s Bank Term Funding Program set up in regional bank crisis

https://blinks.bloomberg.com/news/stories/S70F7MDWX2PS

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