All right, welcome back. The July Federal Reserve minute shedding a little bit of light into the committee's conversations about where interest rates might go. Two members calling for cuts and now the focus of course shifting to Federal Reserve Chairman Jerome Powell speech in Jackson Hole, Wyoming.Rick Santelli joining us now. Rick, you put out a note to us internally about this. On one hand, they're talking about inflation and on the other hand, they're talking about weaker jobs.That's a tough combo. It i ...

Mark, does CPI matter. CPI really matters today. As you know, Guy, I quite often provide context that you shouldn't read too much into one print.But I think if CPI clearly beats today and it doesn't necessarily matter whether that comes to the headline or the core. But if the set of data is overall clearly strong, I think it can really wreak havoc in markets. I think it disrupts both stocks and bonds, and that's because it'll simultaneously disrupt two important narratives at the moment in markets.One is it ...

Softer US labor data and Fed politics push BofA to forecast lower Treasury yields https://t.co/iwtVKXVmCf ...

Treasury yields slip as investors brace for a key reading of US inflation https://t.co/ezY2AbXJlQ ...

Market Trends - Treasury yields increased due to soft demand at a 10-year note auction [1] - Investor concern exists regarding the sustainability of recent gains [1]

in Ben Emmons, the founder and chief investment officer at Fedwatch Advisors. Ben, I spoke mostly about the stock market there. We talked a little bit about the state of play with regard to rates.On balance, is this a market that is due for some kind of a churn and perhaps consolidation at lower levels. >> Good morning Tom. I think it is because, you know, the tone within the FOMC is really changing after that payroll report.I found it notable when Raphael Bostic was interviewed on CNBC. And just yesterday ...

Let's bring in Rick Santelli for more. Rick, is this one, you know, is it better prospects. Is it more like Muhammad Ali was saying this morning, just more global bond issuance from Japan, Germany, and the and the rest of it.What what do you make. Well, global bond issuance is game number one in terms of Treasury yields as the last guest aptly pointed out. Absolutely.But but that doesn't necessarily mean that interest rates are going to zoom zoom zoom. What it may mean is they're just going to st kind of st ...

Market Trends - Investors reacted to Donald Trump's April tariff announcements by selling American assets [1] - This selling pressure caused Treasury yields to increase and the dollar to depreciate [1] - The dollar has not recovered its value since April, indicating a lasting negative impact on its valuation [1]

Market Trends & Uncertainty - Treasury yields are reacting to renewed uncertainty surrounding the Federal Reserve's future, independence, and potential changes in monetary policy [1] - PPI data was mixed, with cooler-than-expected figures offset by later revisions, suggesting minimal impact on the overall economic landscape [2] - A headline about Mr Trump firing Pal caused market fluctuations, but the market reaction suggests the story isn't being taken very seriously [3][7] Bond Market Reaction - The 30-year Treasury yield hovered around 5%, then moved up to 507 and a half after the headline [3] - The 10-year Treasury yield moved from 444 to 448 and a half, a 45 basis points increase [4] - The two-year Treasury yield moved down from 391 to 386, showing a different reaction compared to the 10-year and 30-year yields, possibly influenced by cooler-than-expected PPI [5] Currency Market - The dollar index initially broke down from 9870 to 9780, a move of slightly less than a full cent, but quickly bounced back, indicating speculative forces at play [6] Overall Market Sentiment - The market is anticipating continued rhetoric and pressure from the administration, but the impact on the Federal Reserve's actions remains uncertain [7]

Taking a look at Treasury yields. Uh the tenure at 4.4% uh 2% this morning, the 2-year at 3.9%. Joining us now, Pria Misra, the fixed income portfolio manager at JP Morgan Asset Management.Pria, great to have you with us. Thanks for having um what are we seeing priced into treasuries right now. Have we seen the effects of the tax bill. Have we seen the assumption that the Fed is going to cut rates.I mean, what are we looking at. I love that question because there's so many crossurrens with with interest rat ...