Source: US Dept. of Treasury End of Day
• Yields climbed over the week with the two-year Treasury note rising by 18 basis points to 4.07% while the five-year note also increased by 18 basis points to 3.80%.
• The ISM Services index rebounded in July with all four readings in expansionary territory and beating expectations in a display of economic strength.
• Initial unemployment claims dropped unexpectedly calming investor jitters originally spurred by July’s weaker than expected payrolls report.
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