Weekly Economic Update: April 27th, 2020
• Bond yields were mostly unchanged last week as the two-year Treasury note increased by two basis points to 0.22% while the five-year note increased by one basis point to yield 0.37%.
• Another 4.4 million Americans submitted unemployment claims last week bringing the five-week total to more than 26 million.
• Lawmakers rolled out plans of additional stimulus to the tune of $484 billion for small businesses as the initial $349 billion was quickly depleted.
• Infection rates have finally begun to recede in some of the hardest-hit areas, suggesting social distancing efforts are beginning to flatten the curve which health officials say is required before reopening the economy.