Source: US Dept. of Treasury End of Day
• Rates moved lower during the week with the 2-year Treasury note yield falling by 7 basis points to 3.74% while the 5-year Treasury note fell by 8 basis points to 3.86%.
• Orders for durable goods surged in March by an outsized 9.2% versus an expected 2.0% as auto dealers and parts distributors worked to front run tariffs while durable goods excluding transportation underwhelmed, registering flat for the month versus an expected 0.3% advance.
• Consumer sentiment remains downbeat with the University of Michigan Sentiment Index falling for a fourth consecutive month while inflation expectations run at their highest levels in decades.
• Notable economic releases for the week include the first look at Q1 GDP growth, March’s personal income, spending and PCE inflation data, and the April jobs report.
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