Home price resiliency/Consumers feeling better but note comments on spend/Richmond mfr'g below zero for 15th month in a row

Jul 25, 2023

∙ Paid

Before I hit the data and ahead of the Fed, coincident with the rise in the CRB index, the 10 yr inflation breakeven is rising to the highest level since early March at 2.41%. The 5 yr breakeven is at the highest since late April at 2.33%, up 9 bps this week. The US 10 yr yield by the way is kissing again the 3.90% level.

10 yr Inflation Breakeven

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