June CPI Arrives Tuesday as the Fed’s Last Big Inflation Test Before July 28

June CPI lands Tuesday, July 14 at 8:30 a.m. ET, the last major inflation reading before the July 28-29 FOMC. Here is what it means for rates, mortgages, and savings.

June CPI lands Tuesday, July 14 at 8:30 a.m. ET, the last major inflation reading before the July 28-29 FOMC. Here is what it means for rates, mortgages, and savings.

The U.S. Treasury sold $22 billion of 30-year bonds at 5.058% on July 9, the highest long-bond auction yield since 2007, as foreign demand took nearly 78%.

Federal net interest hit $722.7 billion in the first eight months of fiscal 2026, topping national defense by roughly $92 billion, according to Treasury data.

The national debt closed June at a record $39.46 trillion after a $117 billion one-day jump, putting the $40 trillion mark within reach as soon as this fall.

Fed Chair Kevin Warsh made his first major international appearance at the ECB's Sintra forum, keeping the U.S. prime rate at 6.75% with a hawkish inflation message.

The Fed's preferred inflation gauge rose in May, with headline PCE at 4.1% and core at 3.4%, the highest in years, reinforcing a hawkish hold and a steady 6.75% prime rate.

The U.S. yield curve turned positive again in June 2026 after the long 2022 to 2024 inversion. Here is what an inversion signals and where the curve stands now.

Who holds the $39 trillion U.S. national debt in 2026? Foreign investors own $9.35T led by Japan, the Fed holds about $4.4T, and federal trust funds hold $7.64T.

U.S. employers added 172,000 jobs in May 2026 and unemployment held at 4.3 percent, reinforcing a June Federal Reserve hold and keeping the prime rate at 6.75 percent.

The 10-year Treasury yield climbed toward 4.5% as an oil spike pushed markets to price an 85% chance of a 2026 Fed rate hike, even as the prime rate held at 6.75%.