U.S. macro backdrop
MACRO BACKDROP · MARKET VIEW
Market view · as of Aug 19, 2026
Fed funds rate
3.6300000000%
2026-07-01 · 3.63% prior
10-yr Treasury
4.7200000000%
2026-08-17 · 4.6800000000% prior
Unemployment
4.1%
2026-07-01 · 4.2% prior
CPI (index)
332.813
2026-07-01 · 332.568 prior
The 10-year Treasury yield stands at 4.72% as of August 17, reflecting a spread above the 3.63% federal funds rate recorded on July 1. During that same July period, the U.S. unemployment rate held at 4.1% while the CPI index level reached 332.813.
Indicators
| Indicator | Latest | Prior | As of |
|---|---|---|---|
| Fed funds rate | 3.6300000000% | 3.63% | 2026-07-01 |
| 10-yr Treasury | 4.7200000000% | 4.6800000000% | 2026-08-17 |
| Unemployment | 4.1% | 4.2% | 2026-07-01 |
| CPI (index) | 332.813 | 332.568 | 2026-07-01 |