Market Updates

• Yields fell over the week with the two-year Treasury note decreasing by 15 basis points to 4.47% while the five-year note fell by 12 basis points to 4.11%.

• The June CPI report registered a -0.1% contraction for the month while the core reading advanced by 0.1% marking the smallest monthly advance in nearly three years.

• Fed Chair Powell appeared slightly more dovish when speaking before the Senate Banking Committee where he mentioned that the risk to economic growth is now as significant as reemergence of inflation.

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