The week to Friday, 18 September 2026
Every figure below is a stored fact from a primary source, collected as of Friday, 18 September 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
| Series | Year | Latest | Week change | Source |
|---|---|---|---|---|
| 2-Year Treasury constant maturityDGS2 | 4.74% | +0.18pp | 1 | |
| 10-Year Treasury constant maturityDGS10 | 5.01% | +0.06pp | 2 | |
| 30-Year Treasury constant maturityDGS30 | 5.35% | −0.02pp | 3 | |
| 10Y minus 2Y Treasury spreadT10Y2Y | 0.27% | −0.06pp | 4 | |
| Fed funds target range, upper limitDFEDTARU | 4.00% | +0.25pp | 5 | |
| 10-Year TIPS constant maturity (real yield)DFII10 | 2.68% | +0.13pp | 6 | |
| 10-Year breakeven inflationT10YIE | 2.33% | −0.03pp | 7 |
Equities
Credit
| Series | Year | Latest | Week change | Source |
|---|---|---|---|---|
| ICE BofA US Corporate OASBAMLC0A0CM | 0.78% | −0.02pp | 10 | |
| ICE BofA US High Yield OASBAMLH0A0HYM2 | 2.70% | +0.05pp | 11 | |
| ICE BofA US Corporate Index total return index valueBAMLCC0A0CMTRIV | 3,541.41 | −1.67 | 12 | |
| ICE BofA US High Yield Index total return index valueBAMLHYH0A0HYM2TRIV | 1,897.82 | −5.52 | 13 |
FX & commodities
Macro data
| Series | Year | Latest | Week change | Source |
|---|---|---|---|---|
| CPI-U all items, SACPIAUCSL | 334.13August 2026 · as known on 2026-09-11 | unch. | 18 | |
| Core PCE price index, SAPCEPILFE | 130.66July 2026 · as known on 2026-08-26 | unch. | 19 | |
| Nonfarm payrolls, SAPAYEMS | 159,075kAugust 2026 · as known on 2026-09-04 | unch. | 20 | |
| Unemployment rate, SAUNRATE | 4.10%August 2026 · as known on 2026-09-04 | unch. | 21 | |
| Atlanta Fed GDPNow real GDP nowcast, SAARGDPNOW | 5.08%Q3 2026 · as known on 2026-09-17 | +0.66pp | 22 | |
| U. Michigan consumer sentimentUMCSENT | 55.20July 2026 · as known on 2026-07-31 | unch. | 23 |
United Kingdom
| Series | Year | Latest | Week change | Source |
|---|---|---|---|---|
| Bank RateGBPOL | 3.75% | unch. | 24 | |
| 5-year gilt nominal par yieldGB5Y | 4.93% | +0.03pp | 25 | |
| 10-year gilt nominal par yieldGB10Y | 5.36% | +0.04pp | 26 | |
| 20-year gilt nominal par yieldGB20Y | 5.74% | +0.02pp | 27 | |
| SONIA, sterling overnight index averageIUDSOIA | 3.73% | unch. | 28 | |
| USD per GBPDEXUSUK | 1.3524 | +0.0003 | 29 | |
| UK unemployment rate, 15 and over, SALRHUTTTTGBM156S | 4.90%May 2026 · as known on 2026-09-15 | unch. | 30 | |
| UK real GDP, SA, GBP millionNGDPRSAXDCGBQ | 712,545.00Q2 2026 · as known on 2026-09-07 | unch. | 31 |
Euro area
| Series | Year | Latest | Week change | Source |
|---|---|---|---|---|
| ECB deposit facility rateEAPOL | 2.50% | +0.25pp | 32 | |
| Euro area AAA 2-year spot yieldEA2Y | 3.17% | +0.04pp | 33 | |
| Euro area AAA 10-year spot yieldEA10Y | 3.53% | +0.01pp | 34 | |
| USD per EURDEXUSEU | 1.1604 | −0.0014 | 35 | |
| ICE BofA Euro High Yield OASBAMLHE00EHYIOAS | 2.74% | +0.06pp | 36 | |
| Euro area HICP, all items, NSACP0000EZ19M086NEST | 103.66August 2026 · as known on 2026-09-17 | +0.44 | 37 | |
| Euro area real GDP, chain-linked, SA, EUR millionCLVMNACSCAB1GQEA19 | 2,913,099.70Q2 2026 · as known on 2026-09-07 | unch. | 38 |
Japan
| Series | Year | Latest | Week change | Source |
|---|---|---|---|---|
| 2-year JGB yieldJP2Y | 1.87% | +0.02pp | 39 | |
| 10-year JGB yieldJP10Y | 2.99% | +0.01pp | 40 | |
| 30-year JGB yieldJP30Y | 4.05% | +0.02pp | 41 | |
| JPY per USDDEXJPUS | 153.71 | −2.40 | 42 | |
| Nikkei 225 index levelNIKKEI225 | 64,136.25 | +124.91 | 43 | |
| Japan unemployment rate, 15 and over, SALRHUTTTTJPM156S | 2.40%July 2026 · as known on 2026-09-15 | −0.10pp | 44 | |
| Japan real GDP, chain-linked, SA, JPY billionJPNRGDPEXP | 598,950.50Q2 2026 · as known on 2026-09-07 | unch. | 45 |
Canada
| Series | Year | Latest | Week change | Source |
|---|---|---|---|---|
| Target for the overnight rateCAPOL | 2.25% | unch. | 46 | |
| 2-year Government of Canada benchmarkCA2Y | 3.35% | unch. | 47 | |
| 10-year Government of Canada benchmarkCA10Y | 3.92% | −0.03pp | 48 | |
| CAD per USDDEXCAUS | 1.3864 | +0.0030 | 49 | |
| Canada unemployment rate, 15 and over, SALRUNTTTTCAM156S | 6.40%August 2026 · as known on 2026-09-15 | unch. | 50 | |
| Canada real GDP, SA, CAD millionNGDPRSAXDCCAQ | 631,031.80Q2 2026 · as known on 2026-09-07 | unch. | 51 |
Emerging markets
| Series | Year | Latest | Week change | Source |
|---|---|---|---|---|
| ICE BofA EM Corporate Plus OASBAMLEMCBPIOAS | 1.34% | +0.02pp | 52 | |
| ICE BofA EM High Yield Corporate Plus OASBAMLEMHBHYCRPIOAS | 2.81% | +0.05pp | 53 | |
| CBOE Emerging Markets ETF Volatility IndexVXEEMCLS | 27.48 | +2.22 | 54 | |
| Nominal EM economies USD indexDTWEXEMEGS | 126.44 | +0.27 | 55 | |
| CNY per USDDEXCHUS | 6.7080 | −0.0028 | 56 | |
| BRL per USDDEXBZUS | 5.1009 | −0.0205 | 57 | |
| INR per USDDEXINUS | 95.550 | +1.060 | 58 | |
| MXN per USDDEXMXUS | 16.9704 | +0.1074 | 59 | |
| KRW per USDDEXKOUS | 1,340.30 | −6.21 | 60 |
Model-based indicators
| Series | Year | Latest | Week change | Source |
|---|---|---|---|---|
| Term premium on a 10-year zero coupon bond (Board three-factor model)THREEFYTP10 | 0.96% | +0.07pp | 61 | |
| Chicago Fed National Financial Conditions IndexNFCI | −0.56 | unch. | 62 | |
| Chicago Fed Adjusted National Financial Conditions IndexANFCI | −0.58 | +0.01 | 63 | |
| 10-year expected inflation (Cleveland Fed model)EXPINF10YR | 2.57%September 2026 · as known on 2026-09-11 | unch. | 64 |
Policy rate and the two-year
Primary sources this week
Documents published 2026-09-12 to 2026-09-18 by the Federal Reserve, the US Treasury and the White House, collected verbatim. Each excerpt is the document's first substantive paragraph, quoted verbatim.
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The Committee decided to raise the target range for the federal funds rate by 1/4 percentage point to 3-3/4 to 4 percent, in support of the Federal Reserve's dual mandate. The Committee is continuing its policy of maintaining ample reserves in the banking system.
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F or release at 2:00 p.m., EDT, September 16, 2026 Summary of Economic Projections In conjunction with the Federal Open Market Committee (FOMC) meeting held on September 15–16, 2026, meeting participants submitted their projections of the most likely outcomes for real gross…
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It is especially fitting to gather in the majestic and historic surroundings of Mansion House—a monumental building that has long stood at the center of London's civic and financial life. Its setting reminds us that banking has always depended on public confidence as much as on…
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Today I am announcing the initial findings of the independent review of the failure of Silicon Valley Bank (SVB).1 In June 2023, I called for an independent review of SVB's failure to supplement the internal review. After I was confirmed as Vice Chair for Supervision, I engaged…
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Section 1. Purpose. The H-1B nonimmigrant visa program was created to identify uniquely skilled and highly specialized foreign temporary workers to strategically supplement the United States economy. Instead, the program has been widely abused by certain employers, third-party…
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On September 19, 2025, Proclamation 10973 (Restriction on Entry of Certain Nonimmigrant Workers) (2025 Proclamation), was issued to address significant abuses of the H-1B nonimmigrant visa program. The restrictions enacted by the 2025 Proclamation have proven to be highly…
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Section 1. Purpose and Policy. (a) America’s outdoor recreation sector generates over $1.2 trillion annually and supports over 5 million jobs. To ensure America’s recreational fishing remains strong, Federal fisheries management must appropriately prioritize both recreational…
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Section 1. Purpose and Policy. American hunters, anglers, and landowners are the greatest conservationists the world has ever known. Hunting promotes healthy and robust animal populations, conserves our beautiful wildlife for future generations, and ensures that every American…
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Jeffrey Anderson, of Georgia, to be Representative of the United States of America on the Council of the International Civil Aviation Organization, with the rank of Ambassador, which was sent to the Senate on January 13, 2026.
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Section 1. Purpose and Policy. Canada has unreasonably imposed new barriers to United States companies seeking to access the Canadian government procurement market by, among other things, establishing preferences for Canadian products and Canadian content under its “Buy…
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Section 1. Purpose and Policy. The Chesapeake Bay is the largest estuary in the United States and serves a critically important economic purpose to the communities it directly and indirectly touches. In managing the Chesapeake Bay, as with other resources, governmental actors…
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During Constitution Week, we proudly commemorate the 239th anniversary of the signing of the United States Constitution, the very foundation of our Republic and an eternal reminder that all power throughout our land flows from We the People. Over two centuries later, we remain…
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The glorious liberty that makes America the envy of the world has been secured and sustained by brave and selfless patriots from every war and conflict since the founding of our Republic. On National POW/MIA Recognition Day, we pause to pay everlasting tribute to the defenders…
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James Lewis Quinn, of Virginia, to be a Judge of the United States Court of Appeals for Veterans Claims for the term of fifteen years.
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At its meeting ending on 16 September 2026, the Monetary Policy Committee (MPC) voted by a majority of 6–3 to maintain Bank Rate at 3.75%. Three members voted to increase Bank Rate by 0.25 percentage points, to 4%.
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Thank you for inviting me. It is a pleasure to be here at Queen’s University in Belfast to talk about payment innovations, and what they mean for international money and power.
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The old city walls had come down and the Ringstrasse was rising where they had stood. Railways were pushing out across the empire. New banks and joint stock companies were being founded by the hundred.
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Euro banknotes are more than a means of payment. They are something Europeans share, an expression of our common European identity.
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Rubric www.ecb.europa.eu © -1.0 0.0 1.0 2.0 3.0 4.0 Jan-18 Jul-19 Jan-21 Jul-22 Jan-24 Jul-25 Jan-27 Realised DFR Pre-Iran war forward curve Latest forward curve Median sacrifice ratios during tightening phases 4 Decisive monetary policy brought inflation back to target without…
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It is a particular pleasure to be here. I grew up between the port of Le Havre and the plateau of the Pays de Caux. And while my career has taken me to many other places, my attachment to Normandy has remained strong.
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1 The new guideline for money market operations will be effective from September 24, 2026. 2 The new interest rate applied to the complementary deposit facility and the new basic loan rate will be effective from September 24, 2026. 3 The basic loan rate is stipulated in Article…
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Change in the Guideline for Money Market Operations (September 2026 MPM) ⚫ Accommodative financial conditions are expected to be maintained, continuing to firmly support economic activity. ⚫ The Bank will continue to raise the policy interest rate and adjust the degree of…
Sources
- 2-Year Treasury constant maturity — FRED series DGS2, https://fred.stlouisfed.org/series/DGS2, vintage 2026-09-17
- 10-Year Treasury constant maturity — FRED series DGS10, https://fred.stlouisfed.org/series/DGS10, vintage 2026-09-17
- 30-Year Treasury constant maturity — FRED series DGS30, https://fred.stlouisfed.org/series/DGS30, vintage 2026-09-17
- 10Y minus 2Y Treasury spread — FRED series T10Y2Y, https://fred.stlouisfed.org/series/T10Y2Y, vintage 2026-09-17
- Fed funds target range, upper limit — FRED series DFEDTARU, https://fred.stlouisfed.org/series/DFEDTARU, vintage 2026-09-17
- 10-Year TIPS constant maturity (real yield) — FRED series DFII10, https://fred.stlouisfed.org/series/DFII10, vintage 2026-09-17
- 10-Year breakeven inflation — FRED series T10YIE, https://fred.stlouisfed.org/series/T10YIE, vintage 2026-09-17
- S&P 500 index level — FRED series SP500, https://fred.stlouisfed.org/series/SP500, vintage 2026-09-18
- NASDAQ Composite index level — FRED series NASDAQCOM, https://fred.stlouisfed.org/series/NASDAQCOM, vintage 2026-09-17
- ICE BofA US Corporate OAS — FRED series BAMLC0A0CM, https://fred.stlouisfed.org/series/BAMLC0A0CM, vintage 2026-09-16
- ICE BofA US High Yield OAS — FRED series BAMLH0A0HYM2, https://fred.stlouisfed.org/series/BAMLH0A0HYM2, vintage 2026-09-16
- ICE BofA US Corporate Index total return index value — FRED series BAMLCC0A0CMTRIV, https://fred.stlouisfed.org/series/BAMLCC0A0CMTRIV, vintage 2026-09-16
- ICE BofA US High Yield Index total return index value — FRED series BAMLHYH0A0HYM2TRIV, https://fred.stlouisfed.org/series/BAMLHYH0A0HYM2TRIV, vintage 2026-09-16
- Trade-weighted USD index, broad goods & services — FRED series DTWEXBGS, https://fred.stlouisfed.org/series/DTWEXBGS, vintage 2026-09-14
- Nominal advanced foreign economies USD index — FRED series DTWEXAFEGS, https://fred.stlouisfed.org/series/DTWEXAFEGS, vintage 2026-09-14
- WTI crude spot (EIA) — FRED series DCOILWTICO, https://fred.stlouisfed.org/series/DCOILWTICO, vintage 2026-09-16
- Brent crude spot (EIA) — FRED series DCOILBRENTEU, https://fred.stlouisfed.org/series/DCOILBRENTEU, vintage 2026-09-16
- CPI-U all items, SA — FRED series CPIAUCSL, https://fred.stlouisfed.org/series/CPIAUCSL, vintage 2026-09-11
- Core PCE price index, SA — FRED series PCEPILFE, https://fred.stlouisfed.org/series/PCEPILFE, vintage 2026-08-26
- Nonfarm payrolls, SA — FRED series PAYEMS, https://fred.stlouisfed.org/series/PAYEMS, vintage 2026-09-04
- Unemployment rate, SA — FRED series UNRATE, https://fred.stlouisfed.org/series/UNRATE, vintage 2026-09-04
- Atlanta Fed GDPNow real GDP nowcast, SAAR — FRED series GDPNOW, https://fred.stlouisfed.org/series/GDPNOW, vintage 2026-09-17
- U. Michigan consumer sentiment — FRED series UMCSENT, https://fred.stlouisfed.org/series/UMCSENT, vintage 2026-07-31
- Bank Rate — BOE series GBPOL, https://www.bankofengland.co.uk/boeapps/database/, vintage 2026-09-17
- 5-year gilt nominal par yield — BOE series GB5Y, https://www.bankofengland.co.uk/boeapps/database/, vintage 2026-09-17
- 10-year gilt nominal par yield — BOE series GB10Y, https://www.bankofengland.co.uk/boeapps/database/, vintage 2026-09-17
- 20-year gilt nominal par yield — BOE series GB20Y, https://www.bankofengland.co.uk/boeapps/database/, vintage 2026-09-17
- SONIA, sterling overnight index average — FRED series IUDSOIA, https://fred.stlouisfed.org/series/IUDSOIA, vintage 2026-09-17
- USD per GBP — FRED series DEXUSUK, https://fred.stlouisfed.org/series/DEXUSUK, vintage 2026-09-14
- UK unemployment rate, 15 and over, SA — FRED series LRHUTTTTGBM156S, https://fred.stlouisfed.org/series/LRHUTTTTGBM156S, vintage 2026-09-15
- UK real GDP, SA, GBP million — FRED series NGDPRSAXDCGBQ, https://fred.stlouisfed.org/series/NGDPRSAXDCGBQ, vintage 2026-09-07
- ECB deposit facility rate — ECB series EAPOL, https://data.ecb.europa.eu/, vintage 2026-09-18
- Euro area AAA 2-year spot yield — ECB series EA2Y, https://data.ecb.europa.eu/, vintage 2026-09-18
- Euro area AAA 10-year spot yield — ECB series EA10Y, https://data.ecb.europa.eu/, vintage 2026-09-18
- USD per EUR — FRED series DEXUSEU, https://fred.stlouisfed.org/series/DEXUSEU, vintage 2026-09-14
- ICE BofA Euro High Yield OAS — FRED series BAMLHE00EHYIOAS, https://fred.stlouisfed.org/series/BAMLHE00EHYIOAS, vintage 2026-09-16
- Euro area HICP, all items, NSA — FRED series CP0000EZ19M086NEST, https://fred.stlouisfed.org/series/CP0000EZ19M086NEST, vintage 2026-09-17
- Euro area real GDP, chain-linked, SA, EUR million — FRED series CLVMNACSCAB1GQEA19, https://fred.stlouisfed.org/series/CLVMNACSCAB1GQEA19, vintage 2026-09-07
- 2-year JGB yield — MOF series JP2Y, https://www.mof.go.jp/english/policy/jgbs/reference/interest_rate/, vintage 2026-09-18
- 10-year JGB yield — MOF series JP10Y, https://www.mof.go.jp/english/policy/jgbs/reference/interest_rate/, vintage 2026-09-18
- 30-year JGB yield — MOF series JP30Y, https://www.mof.go.jp/english/policy/jgbs/reference/interest_rate/, vintage 2026-09-18
- JPY per USD — FRED series DEXJPUS, https://fred.stlouisfed.org/series/DEXJPUS, vintage 2026-09-14
- Nikkei 225 index level — FRED series NIKKEI225, https://fred.stlouisfed.org/series/NIKKEI225, vintage 2026-09-17
- Japan unemployment rate, 15 and over, SA — FRED series LRHUTTTTJPM156S, https://fred.stlouisfed.org/series/LRHUTTTTJPM156S, vintage 2026-09-15
- Japan real GDP, chain-linked, SA, JPY billion — FRED series JPNRGDPEXP, https://fred.stlouisfed.org/series/JPNRGDPEXP, vintage 2026-09-07
- Target for the overnight rate — BOC series CAPOL, https://www.bankofcanada.ca/valet/, vintage 2026-09-18
- 2-year Government of Canada benchmark — BOC series CA2Y, https://www.bankofcanada.ca/valet/, vintage 2026-09-18
- 10-year Government of Canada benchmark — BOC series CA10Y, https://www.bankofcanada.ca/valet/, vintage 2026-09-18
- CAD per USD — FRED series DEXCAUS, https://fred.stlouisfed.org/series/DEXCAUS, vintage 2026-09-14
- Canada unemployment rate, 15 and over, SA — FRED series LRUNTTTTCAM156S, https://fred.stlouisfed.org/series/LRUNTTTTCAM156S, vintage 2026-09-15
- Canada real GDP, SA, CAD million — FRED series NGDPRSAXDCCAQ, https://fred.stlouisfed.org/series/NGDPRSAXDCCAQ, vintage 2026-09-07
- ICE BofA EM Corporate Plus OAS — FRED series BAMLEMCBPIOAS, https://fred.stlouisfed.org/series/BAMLEMCBPIOAS, vintage 2026-09-16
- ICE BofA EM High Yield Corporate Plus OAS — FRED series BAMLEMHBHYCRPIOAS, https://fred.stlouisfed.org/series/BAMLEMHBHYCRPIOAS, vintage 2026-09-16
- CBOE Emerging Markets ETF Volatility Index — FRED series VXEEMCLS, https://fred.stlouisfed.org/series/VXEEMCLS, vintage 2026-09-16
- Nominal EM economies USD index — FRED series DTWEXEMEGS, https://fred.stlouisfed.org/series/DTWEXEMEGS, vintage 2026-09-14
- CNY per USD — FRED series DEXCHUS, https://fred.stlouisfed.org/series/DEXCHUS, vintage 2026-09-14
- BRL per USD — FRED series DEXBZUS, https://fred.stlouisfed.org/series/DEXBZUS, vintage 2026-09-14
- INR per USD — FRED series DEXINUS, https://fred.stlouisfed.org/series/DEXINUS, vintage 2026-09-14
- MXN per USD — FRED series DEXMXUS, https://fred.stlouisfed.org/series/DEXMXUS, vintage 2026-09-14
- KRW per USD — FRED series DEXKOUS, https://fred.stlouisfed.org/series/DEXKOUS, vintage 2026-09-14
- Term premium on a 10-year zero coupon bond (Board three-factor model) — FRED series THREEFYTP10, https://fred.stlouisfed.org/series/THREEFYTP10, vintage 2026-09-15
- Chicago Fed National Financial Conditions Index — FRED series NFCI, https://fred.stlouisfed.org/series/NFCI, vintage 2026-09-16
- Chicago Fed Adjusted National Financial Conditions Index — FRED series ANFCI, https://fred.stlouisfed.org/series/ANFCI, vintage 2026-09-16
- 10-year expected inflation (Cleveland Fed model) — FRED series EXPINF10YR, https://fred.stlouisfed.org/series/EXPINF10YR, vintage 2026-09-11