Source: US Dept. of Treasury End of Day
• Interest rates fell last week with the 2-year Treasury note yield decreasing by 9 basis points to 3.91% while the 5-year Treasury note decreased by 12 basis points to 3.97%.
• The Fed’s preferred inflation metric, PCE, came in lower than expected for April, advancing by 0.1% for the month and by 2.1% over the trailing year while core PCE advanced by 0.1% and 2.5% respectively.
• Despite personal incomes growing by a robust 0.8%, consumers zipped up their wallets and purses in April as real personal spending grew by a tepid 0.2%.
• This week brings a decent amount of economic data including the May jobs report due out on Friday where economists are expecting the labor market to gear down from the sturdy 181 thousand average observed over the last two months.
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