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Shownotes
Brian Szytel reviews modest market declines (Dow -131, S&P -0.15%, Nasdaq -0.10%) with major indexes still up YTD, and focuses on the bond selloff pushing the 10-year yield to about 5.24% amid speculation about 6%. He argues higher yields reflect both higher nominal growth near 6% and a Fed intent on reducing its balance sheet, with limited ability for Treasury financing tactics to meaningfully lower yields. He notes consumer confidence missed (81 vs. 89), JOLTS openings dipped slightly (7.1M vs. 7.2M), and Case-Shiller home prices rose 0.3% monthly but lag inflation amid high mortgage rates and weak price discovery. He answers why rates rise despite higher oil: the Fed targets elevated PCE/core inflation by tightening to cool broad-based price pressures.
Market Close Recap
Why Yields Are Rising
Fed Put and Bond Vigilantes
Where Rates May Settle
Today’s Economic Data
Housing Market Reality Check
Why Hike With High Oil
Wrap Up and Thanks
Links mentioned in this episode:
DividendCafe.com (dividendcafe.com)
TheBahnsenGroup.com (thebahnsengroup.com)
