Bond yields are falling after U.S. Treasury Secretary Scott Bessent urged the Fed to lower rates. CNBC's Rick Santelli reports on the latest news regarding the bond market.

Washington

Bond yields have decreased as market participants anticipate a possible 50 basis point rate cut by the Federal Reserve. Analysts suggest that short-term rates could see one or two cuts before the end of the year, which may provide some relief but are unlikely to significantly affect longer-term yields without further intervention.

The housing market is identified as a critical factor in the broader economic outlook, with concerns about high credit card rates and the effectiveness of rate cuts. The US dollar index has also weakened, reaching a two-week low, as speculation around rate policy continues to influence market sentiment.

Bond yields fall on call for 50 basis point rate cut

Because it is time for the bond report it is time for the aforementioned Rick Santelli Rick You just heard Steve Leesman comment about the Fed and bond market. What say you I? Say that the short end of the market is probably going to get a rate cut or two before the end of the year and that Indeed will help, but let's put it in the bigger context what everybody's really thinking about here Do you think credit cards that are in the mid 20s? 25% how much are they going to come down housing housing is probably the whole key that is the one missing piece of this economy Because I think there's parts of the economy. They're starting to cook in Greece so in a way I agree with Rick readers comments But I don't know that the Fed's going to be able to outside of QE to make a long-term Difference in the long end of the market and there in lies the rub now if we look at twos and tens We can see that since CPI the yields are moving down This is very normal, and I know that the Treasury Secretary has made comments about lowering rates I would be shocked if he made comments about raising rates But I'm sure that maybe had some effect, but look at CPI last month when we released it in mid-july There's twos and tens you can see how both of those maturities yields moved lower because once you're beyond The unknown Nervousness of CPI even if it's a little warmer. There's a sigh of relief in the markets It happened in the last one it happened the one before that so we want to pay attention But the one market that's maybe paying attention to all the pressure this administration is putting out there for lowering rates Well, it's a dollar index because it has a wider audience of speculative trading it right now It's if it closed here be a two-week low close But what's key is you see on that chart is when you open it up to the multi-year low We had in early July You can see that we have taken a good chunk of that bounce away any of these closes below 98 are going to be considered by technicians to keep putting selling pressure on the dollar

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Jerusalem

Middle East Conflict

Israeli strikes pound Gaza ahead of planned ground offensive

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Kyiv

Ukraine Invasion

NATO allies stand with Ukraine ahead of Trump-Putin summit

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New York

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National Guard troops arrive in Washington, D.C.

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Israeli military chief approves 'framework' for new Gaza offensive

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Trump warns of 'severe consequences' if Russia doesn't stop war

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Birmingham

American woman found guilty of UK murder-for-hire plot

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Madrid

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Brussels

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Trump to meet with Putin in Alaska on Friday

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Alaska

Europe frozen out as U.S. and Russia prepare for Alaska talks

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Clairton

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Trump deploying National Guard to Washington, D.C.

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Trump and Putin set to meet on Friday without Zelenskyy

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Tel Aviv-Yafo

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Anchorage

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Milwaukee

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Breakdown