Upcoming Key Economic Data Release:
The next new job release is 9.6.24. 8/2/24 down to 114,000 vs 7/5/24 206,000 This provides the data to the Fed that the economy's growth is not accelerating which materially increases the likelihood that the Fed will decrease rates at its next meeting on 9.18.24
The next inflation release 8.14.24 (this coming Wednesday)
The next Fed meeting is 9.18.24
For the past week, 10 Year Treasury rates were Unchanged. Net change in 2 weeks is DOWN 28bp.
The red line is the most current rate while the green line is from one week ago. Shorter-term rates were DOWN relative to longer-term rates, as such the inverted yield curve is LESS steep. For terms 5+ years, the Yield Curve is now beginning to show a positive shape.
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