Fed Minutes Signal Heightened Sense of Financial-Stability Risk -- Market Talk

Dow Jones

Feb 19

0616 GMT - One of the more interesting items teased out from the Federal Reserve's minutes is that the central bank seems to think financial‑stability risks are building under the surface, LPL Financial's Jeffrey Roach says in a note. Asset valuations are high, credit spreads are tight and AI-related investment has created new pockets of risk--especially in private credit, leveraged firms and highly concentrated tech names. Meanwhile, hedge fund leverage and Treasury market vulnerabilities remain key concerns, the chief economist says. "Looking ahead, we should monitor potential spillovers from volatile global bond markets and FX," Roach adds. He doesn't expect the next Fed rate cut to come until June. (emese.bartha@wsj.com)

(END) Dow Jones Newswires

February 19, 2026 01:16 ET (06:16 GMT)

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Asset valuations are high, credit spreads are tight and AI-related investment has created new pockets of risk--especially in private credit, leveraged firms and highly concentrated tech names. Meanwhile, hedge fund leverage and Treasury market vulnerabilities remain key concerns, the chief economist says. \"Looking ahead, we should monitor potential spillovers from volatile global bond markets and FX,\" Roach adds. He doesn't expect the next Fed rate cut to come until June. 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Asset valuations are high, credit spreads are tight and AI-related investment has created new pockets of risk--especially in private credit, leveraged firms and highly concentrated tech names. Meanwhile, hedge fund leverage and Treasury market vulnerabilities remain key concerns, the chief economist says. \"Looking ahead, we should monitor potential spillovers from volatile global bond markets and FX,\" Roach adds. He doesn't expect the next Fed rate cut to come until June. (emese.bartha@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 19, 2026 01:16 ET (06:16 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BIL","symbol_name":"债券指数ETF-SPDR Barclays美国1-3月国债","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2612472505","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2612472505","pubTimestamp":1771481760,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0616 GMT - One of the more interesting items teased out from the Federal Reserve's minutes is that the central bank seems to think financialstability risks are building under the surface, LPL Financial's Jeffrey Roach says in a note. Asset valuations are high, credit spreads are tight and AI-related investment has created new pockets of risk--especially in private credit, leveraged firms and highly concentrated tech names. Meanwhile, hedge fund leverage and Treasury market vulnerabilities remain key concerns, the chief economist says. \"Looking ahead, we should monitor potential spillovers from volatile global bond markets and FX,\" Roach adds. He doesn't expect the next Fed rate cut to come until June. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BIL":"债券指数ETF-SPDR Barclays美国1-3月国债","TMF":"3倍做多20年期以上国债ETF-Direxion","TLTW":"iShares 20+ Year Treasury Bond Buywrite Strategy ETF","BK4588":"碎股","BK4585":"ETF&股票定投概念"},"translate_title":"美联储会议纪要表明金融稳定风险意识增强——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TLTW":0.6,"US12M.BOND":1.5,"US30Y.BOND":1.5,"US5Y.BOND":1.5,"BIL":1.5,"US10Y.BOND":1.5,"US6M.BOND":1.5,"US3Y.BOND":1.5,"US7Y.BOND":1.5,"TMF":1.5,"US2Y.BOND":1.5},"content_text":"0616 GMT - One of the more interesting items teased out from the Federal Reserve's minutes is that the central bank seems to think financial‑stability risks are building under the surface, LPL Financial's Jeffrey Roach says in a note. Asset valuations are high, credit spreads are tight and AI-related investment has created new pockets of risk--especially in private credit, leveraged firms and highly concentrated tech names. Meanwhile, hedge fund leverage and Treasury market vulnerabilities remain key concerns, the chief economist says. \"Looking ahead, we should monitor potential spillovers from volatile global bond markets and FX,\" Roach adds. He doesn't expect the next Fed rate cut to come until June. (emese.bartha@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 19, 2026 01:16 ET (06:16 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"policyRegulatory","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}