Source: US Dept. of Treasury End of Day
• Yields increased over the week with the two-year Treasury note rising by nine basis points to 4.48% while the five-year note increased by fifteen basis points to 4.14%.
• The ISM services index, an indicator of non-manufacturing economic activity, displayed some strength in January, beating survey expectations at 53.4 vs an expected 52.0.
• According to the ISM services prices paid index, suppliers had a hard time keeping pace in January as the gauge rose to an eleven-month high blowing passed expectations at 64.0 vs an expected 56.7.
• Market participants will have a slate of data to digest this week with CPI on Tuesday, retail sales on Thursday, and PPI on Friday among other releases that will provide fresh insight on inflation, consumption, and general economic activity.
