What’s going on here?
US Treasury yields dipped after new data revealed a slowdown in business spending and investors remained cautious post last Friday’s steep drop.
What does this mean?
A Commerce Department report showed non-defense capital goods orders, excluding aircraft, dropped by 0.1% last month – following a revised 0.5% increase in June and just missing market expectations of no change. Meanwhile, Federal Reserve Chair Jerome Powell mentioned inflation is nearing the Fed’s 2% target and reaffirmed the central bank’s commitment to supporting the job market, easing market worries about aggressive rate hikes.
Why should I care?
For markets: Navigating shifting market sands.
The yield on the benchmark US 10-year Treasury note fell by 1.9 basis points to 3.788%, marking its fourth consecutive monthly decline. The 30-year bond yield also dropped 1.6 basis points to 4.086%, reflecting investor confidence in cooling inflation….
