Daily Commentary BY THE CURVE TEAM –

Daily Insights – Powell Re-elected

23 of November, 2021

Powell Re-elected

  • Jerome Powell was re-elected as the Fed chairman for another 4 years.
  • The 10-year Treasury yield was up 8 basis points to be 1.63%.
  • With Powell re-elected, markets anticipate a rate tightening cycle to begin next year.
  • Higher rates should flow through domestically.

Euro Confidence Hit

  • Was down nearly 7 basis points.
  • Nearly 1 million covid cases every three days and a spike in energy costs drove the declines.

Shipping Costs

  • Have begun to normalise.
  • They remain above their long term average.

Josh Stewart

Associate - Money Markets