007 · BRIEFING

The week to Friday, 28 August 2026

Every figure below is a stored fact from a primary source, collected as of Friday, 28 August 2026. Sources are footnoted. Primary-source documents for the week are listed below. No commentary was written for this week. All weeks · Review: Q3 2026.

Rates & curve

Treasury curve1, 2, 3 2026-08-28 2026-08-21 the last observation on or before each date
4%6%2y10y30y2026-08-212026-08-28
Ten-year, real and breakeven2, 6, 7 Nominal Real Breakeven 52 weeks to 2026-08-28
1%5%2025-09-022026-08-28NominalRealBreakeven
SeriesYearLatestWeek changeSource
2-Year Treasury constant maturityDGS2 4.20% — 1
10-Year Treasury constant maturityDGS10 4.67% — 2
30-Year Treasury constant maturityDGS30 5.19% — 3
10Y minus 2Y Treasury spreadT10Y2Y 0.39% — 4
Fed funds target range, upper limitDFEDTARU 3.75% — 5
10-Year TIPS constant maturity (real yield)DFII10 2.34% — 6
10-Year breakeven inflationT10YIE 2.31% — 7

Equities

Indices8, 9 52 weeks to 2026-08-28
S&P 500
6,0008,0002025-092026-08S&P 500
Nasdaq Composite
20,00028,0002025-092026-08Nasdaq Composite
SeriesYearLatestWeek changeSource
S&P 500 index levelSP500 7,711.76 — 8
NASDAQ Composite index levelNASDAQCOM 26,402.42 — 9

Credit

Spreads10, 11 52 weeks to 2026-08-28
US investment grade
0.7%1%2025-082026-08US investment grade
US high yield
2.6%3.6%2025-082026-08US high yield
SeriesYearLatestWeek changeSource
ICE BofA US Corporate OASBAMLC0A0CM 0.79% — 10
ICE BofA US High Yield OASBAMLH0A0HYM2 2.60% — 11
ICE BofA US Corporate Index total return index valueBAMLCC0A0CMTRIV 3,585.22 — 12
ICE BofA US High Yield Index total return index valueBAMLHYH0A0HYM2TRIV 1,916.41 — 13

FX & commodities

Dollar and crude14, 16 52 weeks to 2026-08-28
Broad dollar index
1171222025-092026-08Broad dollar index
Brent
$40$1402025-092026-08Brent
SeriesYearLatestWeek changeSource
Trade-weighted USD index, broad goods & servicesDTWEXBGS 118.06 — 14
WTI crude spot (EIA)DCOILWTICO $83.90 — 15
Brent crude spot (EIA)DCOILBRENTEU $88.24 — 16
JPY per USDDEXJPUS 158.91 — 17
USD per EURDEXUSEU 1.1684 — 18
USD per GBPDEXUSUK 1.3644 — 19

Macro data

SeriesYearLatestWeek changeSource
CPI-U all items, SACPIAUCSL 332.81July 2026 · as known on 2026-08-12 — 20
Core PCE price index, SAPCEPILFE 130.66July 2026 · as known on 2026-08-26 — 21
Nonfarm payrolls, SAPAYEMS 158,858kJuly 2026 · as known on 2026-08-07 — 22
Unemployment rate, SAUNRATE 4.10%July 2026 · as known on 2026-08-07 — 23
Atlanta Fed GDPNow real GDP nowcast, SAARGDPNOW 4.61%Q3 2026 · as known on 2026-08-26 — 24
U. Michigan consumer sentimentUMCSENT 55.20July 2026 · as known on 2026-07-31 — 25

Policy rate and the two-year

Policy rate and the two-year5, 1 Policy rate Market yield 52 weeks to 2026-08-28
United States
3%5%2025-082026-08Policy rateMarket yield

Primary sources this week

Documents published 2026-08-22 to 2026-08-28 by the Federal Reserve, the US Treasury and the White House, collected verbatim. Each excerpt is the document's first substantive paragraph, quoted verbatim.

  1. Federal Reserve · Speech · Friday, 28 August 2026
    Warsh, In Our Time

    Thank you. It's great to be here again and to see so many familiar faces. I've been looking forward to this weekend—what better place to mark my 100th day as Chairman?

  2. White House · Presidential action · Friday, 28 August 2026
    Establishing the United States Space Academy

    Section 1. Purpose and Policy. Space is a critical domain for American national security, economic growth, scientific discovery, and technological innovation. American superiority in space depends on the strength, skill, and character of those who explore, secure, and build the…

  3. White House · Presidential action · Thursday, 27 August 2026
    Honoring the American History of the Great Lakes and Renaming Lake Ontario as Lake America

    Section 1. Purpose and Policy. As I announced in Executive Order 14172 of January 20, 2025 (Restoring Names That Honor American Greatness), it is the policy of my Administration to recognize the extraordinary contributions of the American people and the rich heritage of our…

  4. White House · Presidential action · Wednesday, 26 August 2026
    Further Ensuring Affordable Beef for the American Consumer

    1. In Proclamation 11010 of February 6, 2026 (Ensuring Affordable Beef for the American Consumer), I found that cattle ranchers in the United States have played, and continue to play, an integral role in food production for the United States; that the United States is the…

  5. White House · Presidential action · Wednesday, 26 August 2026
    Declaring a National Emergency to Secure the United States Bulk-Power System

    Section 1. National Emergency. As President of the United States, my highest duty is protecting the national security, foreign policy, and economy of this country. Certain foreign actors are increasingly creating and exploiting vulnerabilities in the United States bulk-power…

  6. White House · Presidential action · Wednesday, 26 August 2026
    Fifth Anniversary of the Attack at Abbey Gate

    At 5:36 p.m. on August 26, 2021, a lone ISIS-K terrorist pressed into the crowd at Abbey Gate in Kabul, Afghanistan, and detonated a body-worn bomb. The terrorist was one of the thousands of prisoners released by the Taliban just 2 months earlier. As a result, 13 American…

  7. White House · Presidential action · Tuesday, 25 August 2026
    Honoring the Memory of Dolly Parton

    As a mark of respect for the memory of Dolly Parton, I hereby order, by the authority vested in me by the Constitution and the laws of the United States of America, that the flag of the United States shall be flown at half-staff at the White House and upon all public buildings…

  8. European Central Bank · Speech · Friday, 28 August 2026
    Isabel Schnabel: Central banks on-chain

    Tokenisation in wholesale finance has emerged as one of the most promising applications of distributed ledger technology (DLT), allowing financial assets and money to be represented as digital tokens on programmable platforms.

  9. European Central Bank · Speech · Wednesday, 26 August 2026
    Piero Cipollone: From vision to delivery: building Europe’s tokenised financial market

    Tokenisation and distributed ledger technology, or DLT, were beginning to reshape financial markets. By representing and transferring assets in the form of programmable data files – tokens – they offered the prospect of making finance more efficient, enabling it to operate…

  10. Bank of Japan · Speech · Thursday, 27 August 2026
    Bank of Japan speech, 2026-08-27

    1 Introduction Good mornin g. I am delighted to be here in Saitama to discuss recent economic developments and their implications for monetary policy. I. Recent Ec onomic Developments Let me begin by disc ussing four key factors affecting the Japanese economy: the Middle East…

Sources

  1. 2-Year Treasury constant maturity — FRED series DGS2, https://fred.stlouisfed.org/series/DGS2, vintage 2026-08-28
  2. 10-Year Treasury constant maturity — FRED series DGS10, https://fred.stlouisfed.org/series/DGS10, vintage 2026-08-28
  3. 30-Year Treasury constant maturity — FRED series DGS30, https://fred.stlouisfed.org/series/DGS30, vintage 2026-08-28
  4. 10Y minus 2Y Treasury spread — FRED series T10Y2Y, https://fred.stlouisfed.org/series/T10Y2Y, vintage 2026-08-28
  5. Fed funds target range, upper limit — FRED series DFEDTARU, https://fred.stlouisfed.org/series/DFEDTARU, vintage 2026-08-28
  6. 10-Year TIPS constant maturity (real yield) — FRED series DFII10, https://fred.stlouisfed.org/series/DFII10, vintage 2026-08-28
  7. 10-Year breakeven inflation — FRED series T10YIE, https://fred.stlouisfed.org/series/T10YIE, vintage 2026-08-28
  8. S&P 500 index level — FRED series SP500, https://fred.stlouisfed.org/series/SP500, vintage 2026-09-04
  9. NASDAQ Composite index level — FRED series NASDAQCOM, https://fred.stlouisfed.org/series/NASDAQCOM, vintage 2026-08-28
  10. ICE BofA US Corporate OAS — FRED series BAMLC0A0CM, https://fred.stlouisfed.org/series/BAMLC0A0CM, vintage 2026-08-28
  11. ICE BofA US High Yield OAS — FRED series BAMLH0A0HYM2, https://fred.stlouisfed.org/series/BAMLH0A0HYM2, vintage 2026-08-28
  12. ICE BofA US Corporate Index total return index value — FRED series BAMLCC0A0CMTRIV, https://fred.stlouisfed.org/series/BAMLCC0A0CMTRIV, vintage 2026-08-28
  13. ICE BofA US High Yield Index total return index value — FRED series BAMLHYH0A0HYM2TRIV, https://fred.stlouisfed.org/series/BAMLHYH0A0HYM2TRIV, vintage 2026-08-28
  14. Trade-weighted USD index, broad goods & services — FRED series DTWEXBGS, https://fred.stlouisfed.org/series/DTWEXBGS, vintage 2026-08-24
  15. WTI crude spot (EIA) — FRED series DCOILWTICO, https://fred.stlouisfed.org/series/DCOILWTICO, vintage 2026-08-26
  16. Brent crude spot (EIA) — FRED series DCOILBRENTEU, https://fred.stlouisfed.org/series/DCOILBRENTEU, vintage 2026-08-26
  17. JPY per USD — FRED series DEXJPUS, https://fred.stlouisfed.org/series/DEXJPUS, vintage 2026-08-24
  18. USD per EUR — FRED series DEXUSEU, https://fred.stlouisfed.org/series/DEXUSEU, vintage 2026-08-24
  19. USD per GBP — FRED series DEXUSUK, https://fred.stlouisfed.org/series/DEXUSUK, vintage 2026-08-24
  20. CPI-U all items, SA — FRED series CPIAUCSL, https://fred.stlouisfed.org/series/CPIAUCSL, vintage 2026-08-12
  21. Core PCE price index, SA — FRED series PCEPILFE, https://fred.stlouisfed.org/series/PCEPILFE, vintage 2026-08-26
  22. Nonfarm payrolls, SA — FRED series PAYEMS, https://fred.stlouisfed.org/series/PAYEMS, vintage 2026-08-07
  23. Unemployment rate, SA — FRED series UNRATE, https://fred.stlouisfed.org/series/UNRATE, vintage 2026-08-07
  24. Atlanta Fed GDPNow real GDP nowcast, SAAR — FRED series GDPNOW, https://fred.stlouisfed.org/series/GDPNOW, vintage 2026-08-26
  25. U. Michigan consumer sentiment — FRED series UMCSENT, https://fred.stlouisfed.org/series/UMCSENT, vintage 2026-07-31