1 Mo 5.40   |   2 Mo 5.46   |   3 Mo 5.50   |   4 Mo 5.45   |   6 Mo 5.37   |   1 Yr 5.09   |   2 Yr 4.69   |   3 Yr 4.43   |   5 Yr 4.24   |   7 Yr 4.22   |   10 Yr 4.22   |   20 Yr 4.47   |   30 Years 4.36   |  

Source: US Dept. of Treasury End of Day

Market Updates

Weekly Economic Update: December 18, 2023

• Yields fell sharply during the week with the two-year Treasury note falling by 30 basis points to 4.43% while the five-year note decreased by 33 basis points to 3.92%.

• Behind the large move down in rates was a dovish appearing Fed at the conclusion of their meeting Wednesday and a freshly revised Summary of Economic Projections that forecast three rate cuts in 2024.

• Retail sales advanced by 0.3% in November versus an expected -0.1% as consumers reopened their wallets after October’s retracement with restaurants and bars as well as online sales leading the gains.

• Headline CPI accelerated by 0.1% in November and by 3.1% over the past 12 months while core CPI showed the disinflationary trend pausing, accelerating by a robust 0.3% and 4.0%, respectively.

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