Source: US Dept. of Treasury End of Day
• The yield curve flattened during the week with 2-year Treasury note yields rising by eight basis points to 4.30% while 5-year note yields increase by a basis point to 4.34%.
• The labor market added 143 thousand workers to payrolls versus an expected 175 thousand in what appeared to be a soft start to 2025, however, the past two months were revised significantly higher adding an additional 100 thousand more jobs than previously reported.
• The unemployment rate fell from 4.1% to 4.0% and wage growth increased from 3.8% to 4.1% signaling that the job market remains solid.
• UM sentiment disappointed with consumers feeling less enthusiastic about current and future economic conditions while also revising 1-year inflation expectations sharply higher from 3.3% to 4.3%.
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