Thomas Tzitzouris
Fixed Income Strategist
Fixed Income Market Update, The Summer Melt-Up in Yields - Week of August 17th, 2026
08/18/2026
Head of Fixed Income and Portfolio Manager Tom Tzitzouris sits down with Portfolio Manager Jerry Hendricks to discuss what's going on in the bond markets. With various yields at multi-decade highs, Tom shares his take on what's causing the Summer melt-up in yields and also how he is managing the two fixed-income portfolios at Strategas Asset Management during the current market environment.
Definitions:
Yield - the annual return an investor earns on a bond, expressed as a percentage of its current price or face value.
Treasury Market / 10-Year Treasury Yield - The Treasury market is the market for U.S. government debt securities, with the 10-year Treasury yield serving as a key benchmark for interest rates and economic expectations.
Reserve management purchases (RMPs) are technical open-market operations where the Federal Reserve Bank of New York buys short-term U.S. Treasury bills to maintain an ample supply of reserves in the banking system and keep short-term interest rates stable
Duration - A measure of a bond's price sensitivity to interest rate changes, expressed in years.
Repo market -A short-term wholesale funding market where participants borrow and lend cash using securities as collateral.
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Strategas Asset Management, LLC and Baird Strategas, LLC are affiliated with Robert W. Baird & Co. Incorporated ("Baird"), a broker-dealer and FINRA member firm, and an SEC Registered Investment Adviser, although the firms conduct separate and distinct businesses.
Fixed Income Market Update, The Summer Melt-Up in Yields - Week of August 17th, 2026
Aug 18 2026