Fed to Remain Calm and Carry On
U.S. Treasury yields have come in from last week’s highs to settle some 10 basis points lower at 3.12% as investors react to ongoing trade disputes, Brexit unrest and an Italian budget crisis. Some reports indicate that the U.S.-China trade picture appears to be brightening while others in the U.S. show that department stores are struggling to move inventory. The California wildfires are also in play as investors are concerned about their impact on utilities. Amid all these matters, the Fed continues to reiterate its confidence in the economy and resolve in pushing rates higher.