Hours after July CPI slowed to 3.4%, the government sold $42 billion of ten-year notes at the highest auction yield since 2007, then reported a record $432 billion July deficit.
July CPI rose 0.1% and the annual rate slowed to 3.4%. Real average hourly earnings still fell 0.1% for the month and 0.2% over the year.
The United States lost 23,000 payroll jobs in July while the S&P 500 closed at an all-time high. Two ledgers delivered opposite orders.
Brent crude climbed to $82.49 while the 10-year Treasury yield reached 4.67%. One supply shock is now moving both operating costs and the price of capital.
SpaceX produced $2.561 billion of AI revenue in the second quarter, then spent $15.828 billion building the machinery behind it. Nasdaq-100 investors now carry the gap.
Washington will borrow $739 billion this quarter, beginning with a $125 billion three-auction relay that tests how much yield private buyers demand.
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