TRA Macro Tracking Index

Yields and the dollar both rose following remarks in Jackson Hole from Fed Chair Kevin Warsh, who noted that getting inflation to the Fed's target 2% remains a goal. No clear policy was detailed as to how that may happen, but markets responded by pricing in higher interest rates to ease inflation's grip on the economy. And backward adjustments to the labor market indicate it is not adding as many jobs as previously reported.

Stay tuned next week as new jobs data is dropped.