TRA Macro Tracking Index

Ten year yields continue to fall along with the dollar, but yields still seem to have broken out to a higher band as they are remaining elevated (likely due to the Japanese Government Bond weakness). On the plus side, the weekly unemployment reports indicate the labor market remains relatively static (no material job losses) and consumer confidence is inching higher (but still very weak compared to where we were six months ago). Inflation of course is still persistent and consumers expect it to remain high for the coming year, according to the University of Michigan survey.

Have a great weekend.