July 2019 Review of Markets and Economy
Stock indices climbed in July to reach new record levels, driven by indications that the Federal Reserve was on track for an imminent rate cut. Read our recap of July. Highlight include:
- The Federal Reserve cut the Fed Funds rate on July 31st, making it the first rate cut since 2008.
- The 10-year Treasury yield dropped in July to its lowest level since 2016 as markets assessed the Fed Chairman’s comments surrounding any possible rate cuts over the next few months.
- The debt limit has been raised 79 times since its creation in 1917.
- Mortgages accounted for two-thirds of the $13.67 trillion in U.S. household debt in the first quarter.
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