Source: US Dept. of Treasury End of Day
• Yields plunged over the week with the two-year Treasury note falling by 51 basis points to 3.89% while the five-year note dropped by 46 basis points to 3.62%.
• Job growth cooled considerably in July with the labor market adding a less than expected 114 thousand workers to payrolls while the unemployment rate rose to 4.3%.
• The supply and demand imbalance for labor continued to moderate in July with average hourly earnings growth decelerating to 3.6% while labor force participation increased to 62.7%.
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