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US Treasury yield curve 'twist' reflects view Fed may not hike again

SUMMARY
'Twist' suggests markets see lower odds of additional Fed hikesLong-end selloff points to inflation, credibility concernsJuly jobs report seen as next yield curve key test

NEW YORK, July 31 (Reuters) - A sharp shift towards a steeper U.S. Treasury bond curve following the Federal Reserve's decision to ​leave interest rates unchanged this week has raised concerns about the central bank's credibility and willingness to fully confront inflation.

The drop in ‌front-end yields, even as those on longer tenors climbed, suggests growing skepticism the Fed will raise rates again, analysts said, despite Chair Kevin Warsh's insistence on Wednesday that policymakers "will not hesitate to act" if price pressures fail to ease.

https://www.reuters.com/business/us-treasury-yield-curve-twist-reflects-view-fed-may-not-hike-again-2026-07-31/
#FundFlow
U.S. equity funds attract first weekly inflow in three weeks

July 31 (Reuters) - U.S. equity funds drew inflows in the week to July 29, snapping a two-week streak of outflows, as investors added exposure to mega-cap technology funds during a recent selloff on bets ‌that the market rally could continue.

Investors bought a net $11.83 billion in U.S. equity funds, more than reversing the combined $10.68 billion in outflows recorded over the previous two weeks, according to LSEG Lipper data...

Investors bought a net $11.57 ‌billion ⁠in U.S. large-cap funds, marking their largest weekly net purchase since June 24. Mid-cap and small-cap funds, however, saw outflows of $2.29 billion and $196 million, respectively.

Technology-sector funds attracted $4.9 billion, their largest weekly inflow since July 8. Financials and consumer staples also ⁠recorded net purchases of $1.96 billion and $751 million, respectively...

https://www.reuters.com/business/us-equity-funds-attract-first-weekly-inflow-three-weeks-2026-07-31/
#FundFlow
Global equity fund inflows surge to three week highs

July 31 (Reuters) - Global equity fund inflows rose to their highest in three weeks during the week to July 29, as investors snapped up technology sector funds during a market downturn, anticipating that ‌the AI-driven advance has further to go.
Investors bought global equity funds worth a net $27.21 billion in their largest weekly net purchase since July 8, LSEG Lipper data showed.

Technology shares came under pressure after Alphabet (GOOGL.O), opens new tab and Tesla (TSLA.O), opens new tab ​reported negative cash flows last week.

However, global stocks rose ⁠about 1.5% on Thursday, after strong results from Microsoft (MSFT.O), opens new tab and Amazon (AMZN.O), opens new tab eased investor ​concerns about heavy capital spending across the sector.

Investors poured $11.83 billion into ​U.S. equity funds during the week, reversing combined outflows of $10.68 billion over the previous two weeks.

European and Asian equity funds also attracted $7.79 billion and $5.37 billion, respectively in ​net inflows...

Investors poured $5.67 billion into technology-sector funds for their largest weekly net purchase since July 8. They also bought $2.1 billion in financial-sector funds and $766 ‌million ⁠in consumer staples funds...

Money market funds stayed out of favor ​for ⁠a third consecutive week, posting net outflows of $6.55 billion.

Gold and other precious-metals funds attracted net inflows of $281 million, extending their winning streak to three ⁠weeks.

https://www.reuters.com/business/autos-transportation/global-markets-flows-graphic-2026-07-31/
1
No B.S. Just Charts. Gareth Soloway breaks down the silver cycle and stacks the current chart against the 2010 to 2011 cycle to project where silver and gold head next.

Gareth walks through why gold and silver underperformed last week despite a sharp drop in the U.S. dollar, from 101.63 down to 99.78 on the DXY. He explains that this is a rate story, not a dollar story, and lays out a unique angle most analysts skip: rising yields are competing with gold for capital right now, but the reason yields are climbing matters more than the move itself. If the long end is signaling that the market no longer believes in U.S. fiscal responsibility, that the government will have to print to service its debt, then that is deeply bullish for gold and silver over the long term.

Gareth then splits the screen and lines up silver's current cycle against the 2010 to 2011 peak. He maps the matching structural beats, the blow-off top, the base plate, the flush and bounce sequence along the same zone, and the retrace back to the scene of the crime. The rhyme points to one more leg lower, with a potential move toward the $50 zone before a long-term bottom sets up. He puts the probability near 70%, stays honest about what invalidates it, and explains why cycles rhyme in the first place: emotion is the same in 2026 as it was in 2011, 1980, or 1500.

Gareth also shares how he is positioned, already holding long-term physical gold and silver, waiting on price to add heavily into that final flush.

Verify chapter timestamps against the final edited cut before publishing.

CHAPTERS:
0:00​ Gold and Silver: Where We Are in the Cycle
0:38​ Why Metals Lagged the Dollar Drop Last Week
2:35​ How Rising Yields Compete With Gold
3:39​ The Real Reason Yields Are Climbing
4:37​ Gold Chart: Breakout Attempt and the Retrace Setup
5:55​ Silver Chart: Still Signaling Weakness
6:11​ Splitting the Screen: The 2011 Cycle Overlay
8:59​ Where We Sit in the Cycle Right Now
9:52​ Cycles Rhyme, They Don't Repeat Tick for Tick
12:00​ The $255 Silver Question and the Long-Term Bull Case
13:30​ How Gareth Is Positioned

Join Gareth's Top Squad for members-only videos and premium analysis:

https://youtu.be/Jjz4jt9YWGQ?is=_qvdQd-01mpL44Et
#WeekAhead
The July jobs report, SpaceX earnings, and AI struggles: What to watch this week

After last week's busiest five-day stretch of the quarter, investors will get only a small amount of relief this week. Several banner items on the agenda include the monthly nonfarm payrolls on Friday and SpaceX's (SPCX) first earnings report as a public company on Tuesday.

The S&P 500 (^GSPC) closed out Friday up 0.7%, for a gain of roughly 1.1% on the week, while the Dow (^DJI) picked up 0.5% on Friday to close the week on a similar performance of roughly 1%. The Nasdaq (^IXIC), continuing its rebound, ended Friday up 1% for a weekly gain of 1.6%.

https://finance.yahoo.com/markets/article/the-july-jobs-report-spacex-earnings-and-ai-struggles-what-to-watch-this-week-100000237.html