Thierry Wizman

“Upon the announcement of the buyback increase and the 'signaling effect' it mustered, the 10-year breakeven rose by about 6-7 bps - not insignificant. That's as if to say that something about the announcement was 'inflationary,'”

Thierry Wizman · said date not stated · reported 2026-08-21

Thierry Wizman notes the rise in the 10-year breakeven rate after the debt buyback announcement.

“were Warsh to signal that he would stay 'dovish' indefinitely, it could be self-defeating for him and the Treasury, since inflation breakevens would rise further, perhaps undoing the stability in the nominal long-term yields that [Treasury Secretary] Scott Bessent is trying to achieve.”

Thierry Wizman · said date not stated · reported 2026-08-21

Thierry Wizman evaluates the potential market risks of Fed Chairman Kevin Warsh signaling a dovish stance.

“too, may be the result of 'read-through' of the Treasury announcement to the prospect of looser Fed policies,”

Thierry Wizman · said date not stated · reported 2026-08-21

Thierry Wizman analyzes the weakening of the U.S. dollar following the Treasury's announcement.

“From watching the stock market zoom higher over the past three sessions, you wouldn't think there's anything wrong with the world,”

Thierry Wizman · said date not stated · reported 2026-08-04

Wizman remarked that the stock market's recent rally suggests the world is doing well despite ongoing concerns.

“After all, even the semiconductor makers have recovered from their big skid in July after some [artificial intelligence] hyperscalers managed to quell analysts' fears about whether their data center investments are excessively eating into cash-flow. And so far, U.S. quarterly earnings reports haven't disappointed, in aggregate.”

Thierry Wizman · said date not stated · reported 2026-08-04

Wizman noted that semiconductor makers have recovered from their July skid and that U.S. quarterly earnings reports have not disappointed in aggregate.