The Weekly Fix: Shouting Down the Fed Pivot; Powell Versus OPEC+

Welcome to the Weekly Fix, the newsletter with at least three bond-market stories. I’m cross-asset reporter Katie Greifeld.

There’s something vaguely masochistic about the market mood at the moment, evidenced by how often the idea of a ‘Federal Reserve pivot’ enters the narrative. The latest run at this trade happened early this week, sending the S&P 500 to its best two-day run since April 2020 while dragging 10-year Treasury yields back to about 3.6% after last month’s foray above 4%.