Treasury Yields Rise Modestly as Fed Holds Rates at 3.5-3.75%; Trump Selects Warsh as Next Fed Chair
Curve Steepens and Tax-Exempt Yields Fall Amid Strong Demand
While the market’s performance was relatively “normal”, 2025 felt anything but normal to us.
U.S. equities advanced at the broad index level, though results were uneven across sectors, and the return dispersion among individual companies was high.
