Prime Minister Kishida’s popularity is in freefall, and the measures taken by the ruling coalition to bolster support, may become more desperate. In response to rising prices, Kishida is weighing…
Another weak 30-year Treasury bond auction was a timely reminder that the old playbooks may need to be adjusted to the new realities. There was a modest move back ‘into…
Non-farm payrolls jumped 336k in September (nearly double expectations of 171k). The average 3-month change for payrolls firmed to 266k. To put this into context: trend payroll job growth (the…
Globally, there is a concerted need to get the public finances in order, to put a stop to this bond rout. The recent deficit targets announced by France & Italy,…
Intense selling pressure on long-dated government bonds continued last month. In certain cases, bond markets are reacting to the prospect of looser fiscal policies (e.g., Italy, Mexico). Japan is readying…
The rise in US Treasury yields is relentless. The 30-year inflation-indexed yield jumped to 2.33% yesterday. Globally, there is intense selling pressure on long-dated government bonds. It is much harder…
