Market Updates

Weekly Economic Update: December 19, 2022

• Yields finished the week lower with the two-year Treasury note falling by 16 basis points to 4.20% while the five-year note decreased by 14 basis points to 3.63%

• Headline CPI advanced by a less than forecasted 0.1% in November and 7.1% over the year while core CPI also came in softer than forecasted advancing 0.2% for the month and 6.0% over the year

• The Federal Reserve raised the Fed funds rate by a widely expected 50 basis points and released a fresh set of economic projections showing a higher terminal Fed funds rate and higher unemployment as the fight against inflation has proven difficult

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