U.S. macro backdrop
MACRO BACKDROP · MARKET VIEW
Market view · as of Jul 13, 2026
Fed funds rate
3.63%
2026-06-01 · 3.63% prior
10-yr Treasury
4.54%
2026-07-09 · 4.56% prior
Unemployment
4.2%
2026-06-01 · 4.3% prior
CPI (index)
333.979
2026-05-01 · 332.407 prior
The 10-year Treasury yield stands at 4.54% as of July 9, 2026, maintaining a positive spread over the 3.63% federal funds rate recorded in June. Broader economic data from the same period shows the unemployment rate at 4.2%, while the CPI index was 333.979 in May.
Indicators
| Indicator | Latest | Prior | As of |
|---|---|---|---|
| Fed funds rate | 3.63% | 3.63% | 2026-06-01 |
| 10-yr Treasury | 4.54% | 4.56% | 2026-07-09 |
| Unemployment | 4.2% | 4.3% | 2026-06-01 |
| CPI (index) | 333.979 | 332.407 | 2026-05-01 |