This week’s chart looks at the makeup of inflation this year, noting it has become a stickier problem in recent months.

This week’s chart looks at daily yield changes on 2-year and 10-year Treasury yields as rate volatility in 2022 has dwarfed that of last year.

The Fed is once again faced with tough choices amid waning consumer sentiment and rising inflation. We examine key indicators to help determine if and when the U.S. may enter a recession.

As signs of a mean reversion appear across markets, we evaluate the degree to which commercial real estate sectors may moderate.

Despite the pain felt by higher quality portfolios in the first half of 2022, we believe quality in credit markets will matter again in the back half of the year.

Volatility roared back in June. High yield bonds lost -6.8%, their worst month of 2022, while loans were down -2.16%. This marked the first back-to-back monthly declines of greater than 2% for loans since 2008.

A new strategy note from Chief Market Strategist Troy Gayeski