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Low correlations mean that bonds zig when stocks zag

\ A wage-price spiral is not in the data yet but it is worth watching for Anchored longer term inflation expectations also make me less worried than some others are about a wage-price spiral Says she''s supportive of tapering bond buying Could imagine adjusting the balance

Here''s What The Fed''s Quantitative Tightening Will Look Like As we noted last night , the December FOMC meeting minutes included a lengthy discussion of the timing and speed of Fed balance sheet shrinkage (quantitative tightening or "QT"), an unexpected twist which sent risk assets and Treasurys tumbling. The broad message appears to be that QT will start sooner than it did in the previous tightening cycle, and proceed at a faster pace although as the Fed''s Bullard (who is a voting member this year) observed, the runoff could be passive, i.e., not involve actual selling but merely be the result of maturing securities held by the Fed. In any case, in a note from BofA economist Aditya Bhave, he argues that the Feds balance sheet policy will remain accommodative for the next several quarters for several reasons: The Fed has more than doubled its balance sheet during the pandemic. Therefore it will have to reinvest a larger quantity of maturing Treasuries even while it is shrinking its balance sheet.

Outgoing Fed Vice Chair Quietly Covered Up Suspicious Trades Made During March 2020 Market Rout Several months have passed since FOMC members Boston Fed President Eric Rosengren and Dallas Fed President Robert Kaplan abandoned their posts following a trading scandal that raised questions about senior Fed officials. Now, Richard Clarida, who is already on his way out the door at the Fed to make room for Biden appointee Lael Brainard, has become the latest senior Fed official to find his way into the ethics officials'' rifle sights. Because according to the NYT , Bloomberg and a handful of other reports, Clarida sold at least $1M of shares in a US-traded stock fund in February 2020 before buying a similar amount of the same fund a few days later, on the eve of a major Fed policy announcement that would trigger an 18-month-plus torrid rally in stocks, bonds and other securities. Notably, while Clarida''s purchase was previously disclosed and reported by Bloomberg News back in October, the initial sale of the fund shares wasn''t disclosed until last month, when an amended financial-disclosure form was finally filed with the government.

The Federal Reserve is ready to cut back its holdings of more than $8 trillion of bonds, with a readout of the U.S. central bank''s meeting last month suggesting that process could get underway later this year.

Financials: March Bonds are currently 14 lower at 15530. 10 Year Notes 6.5 lower at 12820.5 and 5 Year Notes 4.75 lower at 11931.00. Since my last

The FOMC Meeting Minutes release yesterday revealed members using language on inflation and the Feds balance sheet which suggest a more hawkish tilt to its monetary policy, shifting price movements in financial markets.

Futures signaled further pain for tech stocks after Wednesdays rout, adding to the nearly $1 trillion in value wiped out of the Nasdaq Composite Index this week already as a surge in U.S. bond yields spook investors.

As rates rise, holding volatile investments that produce little income becomes less attractive compared with government bonds

The market makes fools of us all.

Chinese developer R&F says short of funds to settle bond tender offer

Concerns about greenwashing have been raised by a climate campaign group after Airport Authority Hong Kong (AA), which operates the citys international airport, raised US$4 billion by issuing a package of bonds that includes a US$1 billion five-year green bond.Paris-based climate campaigner Reclaim Finance said the project itself raised serious climate and biodiversity-related risks and called on investors not to participate to avoid greenwashing and reputational risks.Greenwashing

The U.S. Federal Reserve amassed quite a bond portfolio over the past couple of years, but now it's beginning to map out how it'll unload its holdings in 2022. 2020, of course, saw the Fed go on a sho

The smart move a year ago was to find out which assets professional money managers hated the most -- and buy them

Interest rates remain near historic lows despite inflation raging at multi-decade highs. Meanwhile, geopolitical and macroeconomic uncertainty remain elevated.