ITB

S&P 500 and Nasdaq fell as crude oil rose to $98, pushing 10‑year Treasury yields above 4.8% for the first time since 2023. The move reflects traders pricing a potential Fed rate hike next week.

It is impossible to escape the negativity toward bonds these days. And with good reason, I suppose, since the returns from the asset class have been lousy for some time.

Strong jobs, sticky inflation, rising yields, and an oil surge keep a September Fed hike in play, according to a weekly market update.

A strong August jobs report pushed traders to price a coin‑flip chance of a Fed rate hike this month, dragging the S&P 500 and Dow lower by midday Friday.

The S&P 500’s real estate sector was the only sector to close in the red, down 0.79%, while the broad index rallied close to half a percent.

The median price of new homes sold in the United States, paid by buyers, is declining, indicating improved affordability.

Offerpad is surging 7% while homebuilders barely budge, and no earnings release or corporate announcement explains the gap. The real driver runs through two rate-linked channels that builders simply do not share.

More than half of the 20 cities tracked by the Case‑Shiller index hit new all‑time highs in June after a brief dip earlier this year.