To be more precise, core personal consumption expenditures (PCE) prices YoY hit 2% for the first time since 2012.
Pending home sales declined in July by 0.7%. And 0.5% on a year-over-year basis
Instead of “Off the Run Treasuries,” Japan has “Off the Rails sovereign debt.” As if Godzilla has once more attacked Tokyo. (Bloomberg) — Japan’s benchmark bonds recorded no trades on Wednesday, less than a month after the central bank sought to enliven the world’s second-biggest debt market by relaxing yield control. That’s the seventh instance this year … Continue reading Off The Rails: No Trades in Japan 10-Year Bonds Shows Limits of BOJ Tweaks (Godzilla Strikes Again?) →
Today’s Treasury yield curves (actives and on/off the run) as well as the Dollar Swaps and OIS curves are steeply upward sloping.
Case-Shiller has released their June housing report. The 20 metro home price index rose
Soothe me. The great fear of The Federal Reserve raising their target rate is a popping of the alleged stock market bubble.
We have been watching out for the US Treasury yield curve to invert (e.g, 2-year Treasury yields greater than 10-year Treasury yields).
Some economists like Larry Summers said U.S. economy couldn’t rise above the 2.2%.
Durable goods new orders (ex-transportation) rose at 8% YoY. Smokin’!
On a MoM basis, durable goods orders (ex-trans) rose only 0.2%. But 8% YoY … Smokin’!
I hope Fed Chair Jay Powell doesn’t see this chart … he will fee…
Well, we are back to 2007 before the beginning of The Great Recession and Global Financial Crisis. In terms of the US Treasury yield curve, that is. As of this morning, the 10Y-2Y Treasury slope flattened again to 21 basis points.