Weekly Economic Update: April 5th, 2021
• Bond yields climbed higher during the week as the two-year Treasury note increased by five basis points to 0.19% while the five-year note increased by eleven basis points to 0.98%.
• Last Friday’s jobs report blew past expectations, adding 916k to non-farm payrolls marking the largest increase in seven months.
• A strong ISM manufacturing index reading of 64.7 echoed the jobs report as manufacturing jobs contributed positively with an increase of 53k to payrolls, the largest gain in six months.
• The White House’s recently unveiled $2.3 trillion infrastructure bill is being met with bipartisan resistance as deficit hawks are worried about stoking a economy that will run too hot.