A $25 billion 30-year Treasury auction is poised to yield 4.80%, a level unseen since 2006. This milestone reflects a fundamental reassessment of long-term risk as soaring government debt supply meets a retreating Federal Reserve.
Mortgage rates fell to 6.87% on July 11, marking the lowest level in three weeks as bond markets recalibrate Fed expectations. The drop signals a potential inflection point for a housing market grappling with high borrowing costs throughout 2026.
Spain's bid to expand EU joint borrowing faces skepticism from Berlin and Paris, highlighting persistent divides over fiscal union. The stall reinforces a market focus on national credit risk, with peripheral bond spreads holding steady amid the political debate.
