ZBXCX Stock Market Outlook Fed Signals and Earnings
ZBXCX notes that the bonds market has started 2026 with a “high-yield, high-attention” setup: policy is no longer tightening, inflation is cooler than its peak years, and investors are debating whether the next big move is a gradual easing cycle or a stop-and-go sequence driven by stubborn prices.
A quick snapshot helps frame the current pricing:
10-year U.S. Treasury yield: about 4.19% (recent reading).
2-year U.S. Treasury yield: about 3.54% (recent reading).
10s–2s curve: roughly +0.65 percentage points, meaning the curve is positively sloped at the moment.
On the inflation side, the latest U.S. CPI report showed headline CPI up 2.7% year over year, with core CPI up 2.6%, and CPI +0.3% month over month in December.
For policy, recent reporting and official materials point to the Fed ...
