Bond Traders Cast Doubt on September Fed Cut Before Key CPI Data

For much of this year, bond investors were all but certain that the Federal Reserve would resume cutting interest rates by September.

Lately, that confidence has been wavering. And those nascent doubts add to the focus on inflation data this week that will help set expectations for the Fed’s next steps. It will also dictate whether Treasuries can extend their solid first-half performance, which was the best in five years even after stretches of dizzying swings.