Source: US Dept. of Treasury End of Day
• Rates decreased last week with the 2-year Treasury note yield falling by ten basis points to 3.83% while the 5-year note fell by ten basis points to 3.98%.
• Nonfarm payrolls beat expectations in March, rising by an outsized 178k while the unemployment rate unexpectedly dipped to 4.3%.
• Returning nurses from a strike and improved weather boosted health care and leisure jobs, sectors that accounted for a large share of March gains.
• Wage growth slowed to an annual 3.5% while the percentage of unemployment from voluntary quits fell, suggesting eroding worker bargaining power.
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