• Rates surged during the week with the 2-year Treasury note yield rising by 32 basis points to 3.98% while the 5-year Treasury note increased by 44 basis points to 4.16%.
• The disinflationary trend appeared to resume in March with headline CPI contracting by a monthly -0.1% and advancing by a yearly 2.4% while the core reading slowed to 0.1% and 2.8%, respectively.
• Wholesale inflation decelerated in March with the PPI index contracting by a monthly -0.4% and advancing by a yearly 2.7% while core PPI contracted by a monthly -0.1% and advanced by a yearly 3.3%.
• April’s preliminary UM consumer sentiment was downbeat with current conditions and expectations missing forecasts and falling from the prior month while inflation expectations surged.
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