It’s a big earnings week ahead and our first real look at inflation. Up to now, producers and retailers have been quietly swallowing the costs of tariffs, but that’s not a diet they can stay on forever.
The increases we’re seeing are real, though still less dramatic than what the media (and admittedly, myself) have been bracing for.
10y and 30y bonds are holding steady, keeping rates in place for now. However, upcoming earnings reports could inject real volatility into the market. We’re leaning toward a lock position but holding off on pulling the trigger just yet.
We anticipate a 25bp rate drop from the FEDs in September but will know at Fridays Jackson Hole Symposium with Fed Chair Powell speaking.
Have a fantastic week, lets get you pre-approved and ready to role.
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