U.S. macro backdrop
MACRO BACKDROP · MARKET VIEW
Market view · as of Sep 10, 2026
Fed funds rate
3.63%
2026-08-01 · 3.63% prior
10-yr Treasury
4.8%
2026-09-08
Unemployment
4.1%
2026-08-01 · 4.1% prior
CPI (index)
332.813
2026-07-01 · 332.568 prior
The 10-year Treasury yield rose to 4.8% as of September 8, widening the spread against the federal funds rate, which stood at 3.63% in August. Labor market conditions remain steady with an unemployment rate of 4.1% recorded for the same period. Consumer prices, as measured by the CPI index, reached 332.813 in July.
Indicators
| Indicator | Latest | Prior | As of |
|---|---|---|---|
| Fed funds rate | 3.63% | 3.63% | 2026-08-01 |
| 10-yr Treasury | 4.8% | — | 2026-09-08 |
| Unemployment | 4.1% | 4.1% | 2026-08-01 |
| CPI (index) | 332.813 | 332.568 | 2026-07-01 |