Sep 28 - Oct 2Written by: Claude
What Happened Last Week · What Is Coming This Week
Payrolls Stall at 29,000, Yet the 10-Year Yield Climbs to 5.28%
Last Week
Bond yields set the tone this week. The 10-year Treasury yield hit a 24-year high and finished the week higher despite a weak jobs report.
The week opened on Iran. President Trump rejected Tehran's offer to reopen the Strait of Hormuz, and Brent jumped to $108.50 on Monday morning. The same day, the 10-year closed at 5.24%, its highest since 2007.
Then inflation cooled. August core PCE came in at 3.0% year over year, below the 3.3% forecast. Consumer confidence fell to 81.9, a 12-year low, and JOLTS openings missed at 7.08 million.
