Hazards of the Next Two Years Part 2: Crowding Out

Government borrowing and the Fed balance sheet runoff are flooding T-bill supply.

August 15, 2018   |    By Brian Smedley, Head of Macroeconomic and Investment Research


FEATURED PERSPECTIVES

A Strong Credit Market Shapes the Default Outlook - Featured Perspectives
November 21, 2022

A Strong Credit Market Shapes the Default Outlook

The stress in this credit cycle is driven by unforgiving high interest rates.

Fourth Quarter 2022 Fixed-Income Sector Views - Featured Perspectives
November 10, 2022

Fourth Quarter 2022 Fixed-Income Sector Views

Market and value updates by sector.

The Jobs Data Trend Is Duration’s Friend  - Featured Perspectives
November 04, 2022

The Jobs Data Trend Is Duration’s Friend

October jobs data suggests a cooling labor market.


VIDEOS & PODCASTS

Market Outlook 

Recession ‘Inevitable’ as the Fed Fights Inflation

Scott Minerd, Chairman of Investments and Guggenheim Partners Global CIO, joins Bloomberg TV on Fed Day to discuss the Federal Reserve’s largest rate hike since 1994.

Macro Markets Podcast 

Macro Markets Podcast Episode 25: Fixed-Income Pain Giving Way to Opportunity

Anne Walsh, Chief Investment Officer for Fixed Income, on the economic and credit cycle, and on risk and opportunity across the fixed-income landscape.