Confidence Prevails

As they have for the month, U.S. Treasury yields remained stable this week. Investors are looking past a recent wave of disappointing earnings results, including from American Express, Phillip Morris and eBay in what has generally been a strong start to earnings season. And while investors are currently focused on company results, trade threats are never far away. At the same time, although Federal Reserve Chairman Powell’s comments this week included an upbeat assessment of the domestic economy, any future Fed actions will most certainly rely on data. With investors feeling confident, the 10-year Treasury yield has settled in the mid-2.80% range.