Well, now we're going to dig a little deeper into the Treasury market where the tenure is hovering below a key level. Rick Santelli joins us now from Chicago with the bond report. Yes, indeed.And we might be hovering below a key level at four and a quarter, but we're well above a very significant level, 4%. If we look at this morning's data, one thing that really stuck out, we indeed did have strong personal income and spending as you were just discussing. But taking politics out, inflation's sticky.I don't ...

Bond Market & Interest Rates - The short end of the market is likely to experience one or two rate cuts before year-end, which could provide some support [1] - High credit card interest rates, around 25%, are a key concern [1] - Housing market is identified as the critical missing piece in the economy [2] - Treasury Secretary's comments on lowering rates may have had some effect [3] - Market participants experience a sense of relief after CPI releases, even if slightly warmer than expected, leading to lower yields for twos and tens maturities [4] Dollar Index & Speculative Trading - The dollar index is sensitive to the administration's pressure for lower rates due to its wider audience of speculative trading [5] - A close below 98 on the dollar index is expected to maintain selling pressure, according to technicians [5] - The dollar index has retraced a significant portion of its bounce from multi-year lows seen in early July [5]

Global Bond Market & Treasury Yields - Global bond issuance is a key factor influencing Treasury yields [1] - The market anticipates interest rates may remain elevated for an extended period [2] - The 20-year Treasury auction showed strong performance with the lowest net yield change on the curve, although rates initially dipped before rising again [2][3] Japanese Government Bonds (JGB) - Japan's role as a significant debt issuer is crucial to monitor [4] - JGB ten-year yield is around 1.58%, considered elevated [4] - The interest rate differential between JGBs and US Treasuries is influenced by currency exchange rates [5] Dollar Index - Despite a slight increase in interest rates, the dollar index did not strengthen significantly [5] - The dollar index's 3.5-year low close on July 2nd at 96.78 is a critical level to watch, as technicians may sell if it's breached [6]

Thanks for having me on, Frank. Yeah, dollar's being held back by some uncertainty here and frankly being down 8%. It's just a scratch. Susan, it's just you're calling it just a scratch like Elon Musk.So, it's actually down more than 9%. But I want to get to the action this week in particular. So, I think a lot of people are saying people are piling into the dollar as a safe haven, but you're saying it's something a bit different.You're saying it's some short covering and just also a bare market bounce. Yea ...