Source: US Dept. of Treasury End of Day
• Yields jumped higher over the week with the two-year Treasury note rising by 25 basis points to 4.74% while the five-year note increased by 28 basis points to 4.33%.
• The disinflationary trend continued to lose steam in February with core CPI advancing by a more than expected 0.4% while headline CPI matched expectations, also advancing by 0.4%.
• Consumer demand underwhelmed in February as retail sales advanced by a less than expected 0.6% after January’s outsized -1.1% contraction while the control group that feeds into economic growth was flat on the month.
• The FOMC meets on Wednesday where it is widely expected they will hold the fed funds rate unchanged leading economists and market participants to focus their attention on the first Summary of Economic Projections released this year.
