The staggering run of bonds

Unemployment is not an issue, but inflation is. The “dual mandate” is now a single mandate.

We could forget about inflation for now because more pressing matters are at hand—namely, the most important stock in the world, Nvidia, and its earnings report.

Once again, the decision to keep the Fed Funds Rate at its current level comes as little surprise, as attention now turns to the next official FOMC gathering in September.