Source: US Dept. of Treasury End of Day
• Yields decreased over the week with the two-year Treasury note falling by 10 basis points to 0.40% while the five-year note fell by 13 basis points to 1.06%.
• As expected, the Fed announced details to its plan to begin tapering asset purchases where they will reduce over all purchases at an initial pace of $15 billion per month split between $10 billion in Treasuries and $5 billion in mortgages.
• A strong October jobs report supported Fed sentiment as the economy added 531k compared to economists’ expectations of 450k, the previous two months were also revised upward by a total of 235k.
