U.S. Treasury yields were lower on Friday, with investors looking to the release of key inflation data as they weighed the state of the economy.

At 3:23 a.m. ET, the yield on the 10-year Treasury was down by over one basis point to 3.7714%. The 2-year Treasury yield was last at 3.6021% after falling by more than two basis points.

Yields and prices have an inverted relationship. One basis point equals 0.01%.

Investors on Friday focused on the release of August’s personal consumption expenditures price index, which is the Federal Reserve’s preferred inflation gauge and could therefore provide clues about the monetary policy outlook.

Economists are expecting headline PCE to reflect a 2.3% increase on an annual basis and a 0.1% rise from the previous month. Personal income and spending data will be released alongside the PCE figures.

The data comes as investors have been giving renewed attention to the state of the economy after the Federal Reserve announced a hotly anticipated interest rate cut earlier in the month.

Data published Thursday calmed questions about whether there could be an economic downturn ahead and indicated to some investors that the Fed’s reasoning for cutting rates was not in fact a weakening economy.

The final reading of the second-quarter gross domestic product was unrevised, remaining at 3%, while weekly initial jobless claims pulled back by more than expected and durable goods orders for August were unchanged compared with the forecast decline.  

Two San Diego City Councilmembers on Thursday denounced hate amid a rise in hate crimes in the city, state and country, offering tools and resources to report incidents and support victims.

Councilmembers Raul Campillo and Stephen Whitburn met Thursday during United Against Hate Week.

“In District 3, we’ve seen targeted attacks on our LGBTQ+ community and businesses, a stark reminder that hate has real and harmful impacts on our friends, neighbors and loved ones,” Whitburn said. “We cannot and will not allow hate to divide us or undermine the inclusive values that define our city.”

Following a post-pandemic spike in crime in 2021, rates of both violent and property crime in the city and state have declined. Not so for hate crimes, which have increased significantly from that date. According to a San Diego Association of Governments report, the number of incidents had grown from 81 in 2021 to 96 in 2022 and 133 in 2023 — a growth of 64%. The number of victims too has increased by 48% since 2021.

The top motivation for hate crimes in 2021 was race, making up about 70% of the incidents, followed by sexual orientation and religion. However, in 2023 — and displayed in quite a few incidents so far in 2024 — the percentage of crimes motivated by sexual orientation and religion have increased — from a respective 22% and 7% in 2021 to 31% and 24% in 2023.

Earlier this month, a 19-year-old man accused of carrying out a string of pellet gun shootings targeting the LGBTQ+ community in Hillcrest pleaded not guilty to battery charges and hate crime allegations.

Hernan Garduno Hernandez is accused in three separate gel pellet shootings on six victims along University Avenue on the night of Sept. 7.

That night’s first attack happened around 9:40 p.m., when a group of friends standing outside the Burger Lounge restaurant were fired on. Three of the victims were struck in the arms and legs.

About 15 minutes later, an employee of Urban Mo’s Bar & Grill was outside when he was hit by a gel pellet, according to the case prosecutor. Twelve minutes later, a couple walking out of Urban Mo’s were struck in their upper bodies. The couple saw a car drive past and heard laughter coming from the vehicle, she said.

The attacks happened in Hillcrest, the center of San Diego’s LGBTQ+ community.

Whitburn and Campillo today gave a nod to California vs. Hate, a free and confidential online and phone hotline available in over 200 languages that allows people to report hate incidents and receive support — including legal, financial, mental health and mediation services, a statement from the councilmen read.

“Unfortunately, recent data has confirmed what our communities have already felt firsthand: hate is on the rise in San Diego and across the nation,” Campillo said. “By reporting hate incidents using tools like California vs. Hate, we end the normalization of behavior that truly has no place in San Diego or anywhere else.”

San Diego County is not alone in seeing a rise in hate. Gov. Gavin Newsom has acknowledged the problem and maintains the state is on the leading edge to address it.

“In California, we’re coming together in solidarity to say no to the division and hate,” he said. “From United Against Hate Week to cutting-edge anti-hate programs, we’re leading the nation in the fight against hate. We’re not going back and we’re not giving up. We’re committed to a California for all.”

Eileen Barron

OBITUARY

Eileen Barron passed away on Aug 7th, 2024. She is survived by her three children, three grandchildren, and two great-grandchildren, and many dear friends.Eileen was a true La Jolla bon vivant, hostess, and entertainer from the day she moved there in 1968. She was extraordinarily friendly, and loved to stop and chat and laugh with neighbors and friends. She was invited by all types of people to all kinds of occasions. She always reciprocated an invitation, so she entertained people with interesting lives and stories as guests: artists, scientists, University professors, and people of all backgrounds sat together at her dining table.Eileen loved the theater. She was born and grew up in Queens, New York and regularly attended Broadway plays. She loved to sing and act. She loved the opera. Eileen loved to read novels and talk about the folks in those novels – how they lived.She traveled around the world, going on train rides across Canada and Asia, including from Moscow to Vladivostok, boating on the Amazon River, going on Safari in Africa, and touring India, China, Europe and the Middle East.Eileen was an art collector known for her dazzling taste. Her walls were filled with beautiful original paintings, some famous, some ancient, but mostly impressionist and abstract art from the 40’s, 50’s, and 60’s. She was well-known for her flashy taste in dress and d�cor: the only one with a bright green couch placed under a 6′ x 6′ early ’60’s abstract painting by a local artist. She also collected ceramics and statues from local artists.Eileen worked for many years at Muirlands Junior High and La Jolla High, where she is fondly remembered by faculty and former students.Eileen loved music, plays, a good party, and good company. She made friends who loved her everywhere she went. She will be missed by many.A memorial service for Eileen Barron will be held on Oct 18th. If you wish to attend, please email Laura: laurachatahm@gmail.com. Donations can be made to Dor Hadash Synagogue.