David Kotok

We saw a convulsive reaction to Federal Reserve Chairman Kevin Warsh's press conference on Wednesday, July 29th, following the Fed's decision to keep the fed funds target rate at 3.50–3.75%.

U.S. fixed income markets endured another challenging week as Treasury yields moved higher following the FOMC's decision to leave rates unchanged, and a steady stream of economic data reinforced the resilience of the U.S. economy.

Nonfarm payrolls fell by 23,000 for July, with downward revisions over the prior two months totaling 103,000 – much less than market expectations.

U.S. fixed income and equity markets saw solid gains last week as a surprisingly weak July employment report sparked a rally in Treasuries and reduced expectations for additional near-term Federal Reserve tightening.

U.S. equity markets finished the week mixed but generally resilient, with the S&P 500 reaching a new record high.

With August drawing to a close, U.S. equities endured a volatile risk-off week led by fixed-income market action.

Standard coupon-bearing TIPS present a structural duration mismatch against zero-coupon bonds. The cleanest method to align duration is to buy 30-year TIPS Principal STRIPS (stripped TIPS).

U.S. financial markets delivered a mixed performance last week as investors balanced a hawkish interpretation of Chairman Warsh's Jackson Hole remarks against signs of a gradually moderating economy.

Summary Trump's first-time-ever use of Section 338 tariffs has raised risk to the defense investment sector.

FreshSplash/E+ via Getty Images U.S. financial markets absorbed a heavy slate of economic data last week as investors weighed evidence of