JULY 27, 2026 – The market has the Fed Funds Rate priced at 3.9%-4.1%. It is set at 3.5%-3.75%. The Fed will not change rates this week. However, the market is suggesting a rate increase before yearend may be needed. Right now, the odds are strong for an increase at the September meeting. As an aside, the 30-Year Treasury Bond rate is the highest it has been since 2007! That is amazing. Anyone expecting mortgage rates to go down is expecting wrong.
AMAZING STAT OF THE DAY – I recently read that of the 500 companies in the S&P 500 in 1996 only 165 exist today. Around 2/3rds of the 500 largest companies in America 30 years ago have disappeared!!! That is incredible. However, I would not be surprised if 80%-90% of today’s S&P 500 companies are gone in just 20 years. As Jeff Bezos said years ago, one day Amazon will be gone.
Shalom,
The Mann