Rent prices in the U.S. are rising at the fastest pace in decades, slamming U.S. households across the country, according to data from the Bank of America Institute.
A high share of home sellers dropped their asking price in July, particularly in pandemic boomtowns, as they struggled to match their expectations with the reality of the cooling housing market.
The gathering consensus that inflation has peaked is spurring a FOMO moment for bonds, with investors eager to buy and chatter that 10-year Treasury yields could drop all the way back to 2%. That sort of Treasuries rally is unlikely unless China’s slowdown worsens.