Global
Nov 3, 2026 • 5:26 PM
JPMorgan’s Michele Urges Treasury to Ax ‘Orphan’ 20-Year Bond
JPMorgan Asset Management’s Bob Michele has some advice for Treasury Secretary Scott Bessent: get rid of the 20-year bond.
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Data from Tuesday, November 3, 2026
Current as of 5:47 PM
U.S. equity markets closed higher Tuesday, November 3, 2026, with the S&P 500 advancing 0.26% to 4892.35. The Dow Jones Industrial Average added 0.23%, while the technology-heavy NASDAQ 100 lost 0.14%. Market breadth was positive with small-caps outperforming large-caps. The Russell 2000 rose 0.29%, suggesting improved risk appetite. In other asset classes, gold declined 0.40%. Treasury bonds fell as yields moved higher. In the headlines, investors focused on jpmorgan’s michele urges treasury to ax ‘orphan’ 20-year bond. --- *After-hours trading. Prices may differ from regular session close.*
Economic Snapshot
View all indicatorsGDP Growth Rate
2.4%+14.30%
Previous: 2.1%As of Q3 2024
Unemployment Rate
3.8%-2.60%
Previous: 3.9%As of Nov 2026
CPI Inflation (YoY)
3.2%-5.90%
Previous: 3.4%As of Nov 2026
Fed Funds Rate
5.3%0.00%
Previous: 5.3%As of Nov 2026
10-Year Treasury Yield
4.1%+0.98%
Previous: 4.1%As of Nov 2026
Consumer Sentiment
110.7+1.80%
Previous: 108.7As of Nov 2026
“As sure as the spring will follow the winter, prosperity and economic growth will follow recession.”— Robert Foster Bennett
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Daily Briefing
Data from Tuesday, November 3, 2026
Current as of 5:47 PM
U.S. equity markets closed higher Tuesday, November 3, 2026, with the S&P 500 advancing 0.26% to 4892.35. The Dow Jones Industrial Average added 0.23%, while the technology-heavy NASDAQ 100 lost 0.14%. Market breadth was positive with small-caps outperforming large-caps. The Russell 2000 rose 0.29%, suggesting improved risk appetite. In other asset classes, gold declined 0.40%. Treasury bonds fell as yields moved higher. In the headlines, investors focused on jpmorgan’s michele urges treasury to ax ‘orphan’ 20-year bond. --- *After-hours trading. Prices may differ from regular session close.*
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