Published On: September 17th, 2026Categories: Trade Ideas
The Fed chose credibility over comfort. Its unanimous 25bp hike and higher projected rate path sent a clear message: persistent inflation will not be tolerated, even under political pressure. The initial bear flattening of the Treasury curve and decline in inflation expectations suggest that markets took the message seriously. However, the long end remains exposed to oil prices, fiscal deficits, heavy issuance and growing competition for capital. In our latest flash report, we explain why we remain cautious on duration and continue to prefer short- and intermediate-dated bonds.
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