Duration & Credit Pulse: February 23, 2025
Duration & Credit Pulse – Week Ending February 23, 2025 | Mariemont Capital Duration & Credit Pulse Week Ending February 23, 2025 Executive Summary Bottom Line: Credit markets displayed dangerous complacency as spreads compressed to pre-crisis tights despite hawkish FOMC minutes revealing deep Fed concerns about tariff-driven inflation risks. Treasury yields declined modestly with 2s10s […]
Duration & Credit Pulse: February 16, 2025
Duration & Credit Pulse – Week Ending February 16, 2025 | Mariemont Capital Duration & Credit Pulse Week Ending February 16, 2025 Executive Summary Bottom Line: Hot inflation data shattered rate cut hopes as January CPI surged 0.5% monthly—the highest since August 2023—while Trump’s steel tariffs and China’s energy retaliation created a toxic stagflationary cocktail. […]
Duration & Credit Pulse: February 9, 2025
Duration & Credit Pulse – Week Ending February 9, 2025 | Mariemont Capital Duration & Credit Pulse Week Ending February 9, 2025 Executive Summary Bottom Line: Trump’s tariff bombshell triggered dramatic curve flattening as short rates rose on inflation fears while long rates fell on growth concerns. The January employment report disappointed at 143,000 jobs […]
Duration & Credit Pulse: January 31, 2025
Duration & Credit Pulse – Week Ending January 31, 2025 | Mariemont Capital Duration & Credit Pulse Week Ending January 31, 2025 Executive Summary Bottom Line: The Federal Reserve held rates steady as expected while Treasury yields edged lower despite President Trump’s tariff announcement on Canada, Mexico, and China on Friday. The week’s dichotomy—hawkish Fed […]
Duration & Credit Pulse: January 24, 2025
Duration & Credit Pulse – Week Ending January 24, 2025 | Mariemont Capital Duration & Credit Pulse Week Ending January 24, 2025 Executive Summary Bottom Line: Markets displayed remarkable equilibrium during Trump’s inauguration week, with Treasury yields edging marginally lower while credit spreads compressed to extreme tights. The VIX’s decline to the 18th percentile signals […]
Duration & Credit Pulse: January 17, 2025
Duration & Credit Pulse – Week Ending January 17, 2025 | Mariemont Capital Duration & Credit Pulse Week Ending January 17, 2025 Executive Summary Bottom Line: Treasury yields retreated meaningfully as December CPI data reinforced disinflationary trends, while pre-inauguration uncertainty drove a classic flight-to-quality bid. The 10-year yield’s 13bp decline from extreme 99th percentile levels […]
Duration & Credit Pulse: January 10, 2025
Duration & Credit Pulse – Week Ending January 10, 2025 | Mariemont Capital Duration & Credit Pulse Week Ending January 10, 2025 Executive Summary Bottom Line: A blockbuster December jobs report and hawkish Fed minutes from earlier in the week drove Treasury yields to extreme levels (99th percentiles), as markets priced peak uncertainty about Trump […]
