Market Updates

• Rates plummeted during the week with the 2-year Treasury note yield falling by 26 basis points to 3.66% while the 5-year Treasury note decreased by 27 basis points to 3.72%.

• The economy added 228 thousand workers to payrolls in March handily beating forecasts while average hourly earnings decelerated to a yearly 3.8%, down from 4.0% in February.

• The unemployment rate ticked higher to 4.2% in March, however, it was driven by an increase in labor force participation signaling continued strength in the labor market.

• Notable economic releases this week include the FOMC minutes on Wednesday, CPI Thursday, and PPI and UM sentiment on Friday.

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