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Cleveland Fed's Hammack expects that more than one rate hike will be n, 10s -4bp

desk brief, Mon 10 Aug 2026

Treasuries (close 2026-08-07): 2s 4.19% (-6.0bp), 10s 4.65% (-4.0bp), 30s 5.19% (-3.0bp).

Tape (close 2026-08-07): VIX 14.9, 2s10s +46bp.

Narrative: Europe Gas Prices Surge as Hormuz Deal Prospects Remain Murky

What mattered:

  • Cleveland Fed's Hammack expects that more than one rate hike will be needed
  • Fed's Hammack: Now is the time for us to start acting.
  • Wednesday’s crucial CPI report will show tamer inflation, according to prediction markets
  • A Hot CPI Report Causes Problems for Fed, Caron Says
  • BoJ September rate hike signal led the US to join in intervention - Kyodo
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