Historical note: compiled on October 4, 2026; the observation cutoff is the date in this article (2026-08-11, New York close).
BLS had scheduled July CPI for the morning of August 12. The result was still unavailable at the August 11 New York close: SPY and QQQ each lost about 0.3%, semiconductor ETF SMH gained 0.6%, long-duration Treasury ETF TLT rose 0.2%, and gold ETF GLD fell 0.4%. Moves were modest, with chips, broad equities, gold and long bonds pointing in different directions. A quiet close establishes neither advance knowledge of inflation nor fully absorbed event risk.
The two-year Treasury yield eased from 4.25% to 4.22%, the ten-year from 4.72% to 4.70%, and the ten-year real yield stayed at 2.43%. The short-end adjustment was not confirmation of a policy decision; longer nominal yields also reflect expectations beyond CPI.
Sources: Yahoo Finance historical daily prices SPY, QQQ, SMH, TLT, GLD; 2-year Treasury yield; 10-year Treasury yield; 10-year real yield; BLS August release calendar. Market data refer to the 2026-08-11 New York close; daily changes compare adjacent trading sessions in the retrieved close series. The vendor’s adjustment rules have not been independently verified; investor total returns were not calculated. FRED historical observations were retrieved during compilation; real-time vintages were not reconstructed. Mechanism interpretations are research judgments. Personal research and opinion for information only; not investment advice.