Source: US Dept. of Treasury End of Day
• Yields moved slightly higher with the two-year Treasury note rising by three basis points to 4.63% while the five-year note also increased by three basis points, ending the week at 4.23%.
• The last and final look at Q4 2023 real GDP showed the economy ended the year on stronger footing than previously thought advancing by 3.4% and was supported by an upward revision to personal consumption from 3.0% to 3.3%.
• The consumer started to display some strength this year after soft readings on retail sales in January and February as real personal consumption advanced by a robust 0.4% in February boosting the year-over-year rate to 2.4%, up from 2.0% in January.
• The Fed’s preferred price index, core PCE, shows the disinflationary trend continuing to lose momentum as the gauge advanced by a yearly 2.8% in February, which is down from 2.9% in January, but logs the smallest decrease in more than three years.
