1 Mo 5.56   |   2 Mo 5.53   |   3 Mo 5.46   |   4 Mo 5.51   |   6 Mo 5.44   |   1 Yr 5.21   |   2 Yr 4.93   |   3 Yr 4.71   |   5 Yr 4.53   |   7 Yr 4.49   |   10 Yr 4.46   |   20 Yr 4.65   |   30 Years 4.57   |  

Source: US Dept. of Treasury End of Day

Market Updates

Weekly Economic Update: April 17, 2023

• Yields finished the week higher with the two-year Treasury note rising by 14 basis points to 4.11% while the five-year note bounced 10 basis points to 3.61%.

• Headline CPI advanced by 0.1% vs an expected 0.2% as the deflationary process remains underway, however it should be noted most of the retreat was due to falling energy prices which have since been reversed due to OPEC+ production cuts announced earlier this month.

• Core CPI, which excludes more volatile food and energy prices advanced in line with expectations at 0.4%, still far outside of the Fed’s comfort zone and it is expected they will follow through with another 25 basis point Fed funds rate hike at the upcoming May meeting.

• Retail sales retreated -1.0% vs an expected -0.5% as the pullback in consumer spending accelerated and to no surprise, the drop in spending was led by big ticket, interest rate sensitive goods.

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