Michael Mackenzie

Stay informed with Michael Mackenzie’s coverage and analysis for Fortune.

  • U.S. Treasury Secretary Scott Bessent listens during a Cabinet meeting at the White House on April 10, 2025 in Washington, DC. U.S.Finance

    Treasury market’s ‘new world order’ brings fear of the long bond

    By Michael Mackenzie and Bloomberg
  • Finance

    The bond market’s Trump trade is looking like a recession trade

    By Michael Mackenzie, Liz Capo McCormick, and others
  • people at a job fairFinance

    Bond traders buckle up for ‘no landing’ after jobs surprise

    By Ye Xie, Michael Mackenzie, and others
  • Charging Bull sculptureFinance

    A super-sized Fed rate cut is becoming a more popular bet

    By Michael Mackenzie, Edward Bolingbroke, and others
  • Donald Trump holds finger to his foreheadFinance

    Financial markets are pricing in more inflation under another Trump presidency—and bond yields are surging

    By Carter Johnson, Michael Mackenzie, and others
  • Richard Clarida, global economic advisor of Pacific Investment Management Co. (Pimco), during a Bloomberg Television interview in London, UK, on Thursday, Sept. 14, 2023. The Federal Reserve will be inclined to deliver a “hawkish pause” for their next interest rate decision, Clarida said. Photographer: Betty Laura Zapata/Bloomberg via Getty ImagesFinance

    Fed hikes still in play amid stubborn inflation and strong economy, warns Pimco’s global economic adviser

    By Michael Mackenzie and Bloomberg
  • Traders work after the closing bell at the New York Stock Exchange (NYSE) on August 7, 2019 in New York City. – Wall Street stocks finished little changed on August 7, 2019, following a choppy session as a plunge in treasury bond yields early in the day underscored worries about a weakening global economy. (Photo by Johannes EISELE / AFP) (Photo by JOHANNES EISELE/AFP via Getty Images)Finance

    An economic warning sign that preceded two past recessions is flashing ominously red again

    By Ye Xie, Michael Mackenzie, and others
  • Bond traderFinance

    ‘The world’s safest asset’ is anything but as geopolitical risk grips the multitrillion-dollar Treasury market: ‘It’s going to be a rough ride, so buckle up’

    By Liz Capo McCormick, Michael Mackenzie, and others
  • Larry Fink, chief executive officer of Blackrock Inc., at the Berlin Global Dialogue in Berlin, Germany, on Friday, Sept. 29, 2023. The forum runs until Friday, Sept. 29. Photographer: Krisztian Bocsi/Bloomberg via Getty ImagesFinance

    Wall Street giant Larry Fink sees 10-year Treasury yield at 5% or higher ‘because of this embedded inflation. This structural inflation is unlike anything’

    By Alice Gledhill, Michael Mackenzie, and others