Source: US Dept. of Treasury End of Day
• Yields increased over the week with the two-year Treasury note rising by eight basis points to 4.99% while the five-year note increased by eleven basis points to 4.68%.
• Retail sales advanced by 0.7% in March compared to an expected 0.4% while the control group that feeds directly into GDP, advanced by a robust 1.1% marking the largest advance in over a year.
• While the retail sales report is generally a better gauge for goods opposed to services, the one services component of the report, sales at bars and restaurants, advanced by a formidable 0.4%.
• Notable economic releases for the week include the first estimate of Q1 2024 GDP due out on Thursday, then March’s personal consumption data as well as the Fed’s preferred inflation metric, the PCE deflator, slated for release on Friday.
