Daily Note | August 20, 2024 | JPI Tender Done, PCF Wait Mode, PIMCO UNII

Markets are little changed after an 8-day winning streak. The 10-year yield is down a few bps to 3.84%. The major indices have rebounded strongly since the big drop from the Japanese unwind trade at the start of the month. The S&P is now within 1% of a record high and the Nasdaq is about 3.5% away.

Strong retail sales data and a soft inflation report iss…