Capital Markets July 2024 Rate Sheet
The July 2024 rate sheet indicates that Treasury yields have been range-bound during the slow summer trading period. However, as employment and factory orders start to wane ahead of this year’s election, more commentary has surfaced from money center bank economists regarding the impending recession. Several money center banks have suggested multiple rate cuts over the next several quarters.
And yet, the Federal Reserve will most likely be late (as they have been) in the cycle, considering that the European central banks have already begun rate-cutting. It will be a matter of time before the Fed is forced to cut the overnight rate—adding more pressure to the yield curve—most likely in October or November.
Download the July Capital Markets Rate Sheet for more information.
