The Federal Reserve is talking about raising interest rates, but it’s also lowering growth expectations. No wonder the market’s uninspired to do much of anything at the moment. The benchmark 10-year yield was unchanged yesterday at 2.32%, based on Treasury.gov data. That’s still moderately elevated vs. the below-2% levels at various points in recent months. But the current rate is also below the 2.50% yield we saw earlier this month. For now, the upside bias is on hold.
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● Fed signals it’s on track for September rate hike | USA Today
● Fed holds off on interest rate hike, downgrades economic forecast | LA Times
● Mortgage applications drop 5.5% on rising interest rates | HW
● Eurozone return to inflation confirmed as energy impact wanes | Reuters
● U.K. Retail Sales Rise Unexpectedly In May | RTT
● Investors brace for more volatility as Greece eyes default | CNBC