Treasury Market Summary: another soft inflation report in the way of PPI today further fueled expectations the FOMC will be done hiking rates after the upcoming 25 bp increase on July 26. That view further fueled the rallies on bonds and stocks, while knocking the dollar sharply lower. The 2-year yield dove another 12.6 bps to 4.620%… Read more

Fed’s Christopher J. Waller says: “With the banking sector sound and resilient, fighting inflation remains my top priority, and I believe we will get there. What will get us there is setting the stance of policy at a level that will continue to help bring supply and demand in the economy into better balance. While I expect inflation to… Read more

Todays 

Downgrades

• Activision Blizzard (ATVI) downgraded by Truist from Buy to Hold
• Tele2 (TLTZY) downgraded by JPMorgan from Overweight to Neutral
• Altium (ALMFF) downgraded by RBC Capital from Outperform to Sector Perform
• Coinbase (COIN) downgraded by Barclays from Equal Weight to Underweight
• Scotts Miracle-Gro (SMG) downgraded by Stifel from Buy…

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