Source: US Dept. of Treasury End of Day
• Yields rose with the yield on the 2-year Treasury note rising by one basis point to 4.34% while the 5-year note increased by eight basis points to 4.47%.
• Capital goods orders excluding aircraft advanced by a robust 0.7% in a sign that the economy is poised to remain on its strong growth trajectory into 2025.
• The labor market remains healthy with initial claims for unemployment holding steady however, continuing unemployment claims has been slowly creeping upwards signaling that it is taking job seekers more time to find work.
• The tentative agreement reached between the International Longshoremen Association and the US Maritime Alliance is set to expire on January 15th and carries potential to cause major supply disruptions should port workers resume striking.
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