GOP Faces Midterm Headache as Treasury Yields Stay Elevated
Rising 10-year Treasury yields near 4.85% pressure GOP midterm strategy as Trump pledges $5,000 payments amid debt concerns.
Inflation, employment, growth data and central bank decisions, and how they reprice risk across markets.
Rising 10-year Treasury yields near 4.85% pressure GOP midterm strategy as Trump pledges $5,000 payments amid debt concerns.
ANZ expects ECB to hike again in December to 2.75% deposit rate; ING calls it an insurance move.
Friday's August CPI report, the final inflation data before the Fed's meeting, is expected to decide rate hike odds after PPI raised them above 70%.
Lagarde's Saturday apple festival speech may reinforce her inflation stance two days after ECB rate rise.
Japan's wholesale inflation stayed hot in August, reinforcing expectations that the Bank of Japan will raise rates next week.
Asian markets fell Friday as US inflation data and higher bond yields fueled rate hike expectations, with oil prices also surging.
New Zealand's manufacturing PMI fell to 53.1 in August from 54.3 but remains above the long-term average. Employment stalled at 50.0.
ECB raised its key rates by 25bp to 2.5%, but euro stablecoin holders see no benefit as MiCA bans interest payments.
US Treasury sold $22 billion in 30-year bonds at a high yield of 5.308%, with strong international demand.
The US dollar has stalled for a month; a weak dollar could raise import costs for American consumers.
US producer prices rose 0.4% in August, pushing gold and bitcoin lower as rate hike expectations increased.
U.S. wholesale inventories rose 1.3% in July, matching expectations, while sales rebounded 0.8% after a decline.
August existing home sales hit 3.98 million, matching estimates, with a 2.0% fall from the prior month.
Oil crosses $100, 10-year yields reach 4.90%, and hot PPI reinforces Sept. 16 Fed hike bets.
ECB President Lagarde said the eurozone economy is resilient and the near-term outlook has improved.