The rear-view mirror paints a rosy picture. All the primary sectors of the US bond market are posting solid year-to-date gains, based on a set of ETFs through Monday’s close (Dec. 8). Expectations for another rate cut at tomorrow’s policy meeting could extend the rally. But beneath the surface are hints that 2026 could be a more challenging environment for fixed income amid swirling cross currents for policy and macro factors.
Daily Archives: December 9, 2025
Macro Briefing: 9 December 2025
The NFIB Small Business Optimism Index rose 0.8 points in November to 99.0 and remained above its 52-year average of 98. “Although optimism increased, small business owners are still frustrated by the lack of qualified workers,” said NFIB Chief Economist Bill Dunkelberg. “Despite this, more firms still plan to create new jobs in the near future.”
