Source: US Dept. of Treasury End of Day
• Yields went mostly unchanged over the week with the two-year Treasury note rising by one basis points to 3.97% while the five-year note decreased by one basis points to 3.89%.
• Retail sales broadly beat expectations in September advancing by 0.4% compared to an expected 0.3% while the control group that feeds directly into GDP growth, more than doubled expectations advancing by 0.7% compared to a forecasted 0.3%.
• Data surrounding the labor market for the first two weeks of October showed resilience with a less than expected number of workers filing for unemployment while continuing jobless claims was right in line with economic forecasts.
• A light week of economic data lies ahead but notable releases include the Fed’s beige book, which will display how the Fed is evaluating the current state of the economy, and October’s final UM sentiment reading, that gauges how consumers are feeling on economic conditions and inflation.
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