MRB in Reuters – September 15, 2023
A resilient U.S. economy is the broader trend despite the rise in interest rates, said Phillip Colmar, global macro strategist at MRB Partners in New York.
“We think the underlying trend of U.S. inflation is with a 3% handle, not 2%, and without a recession you have no chance to get to 2%. The market is still coming to grips with that idea.” “If we don’t get interest rates high enough to cause a recession or to sustainably dampen growth, you don’t need rate cuts. So that pushes up yields”.