Weekly Economic Update: February 1st, 2021
• Bond yields declined slightly as both two-year and five-year Treasury notes fell by one basis point to 0.11% and 0.42%, respectively.
• Real GDP fell by 3.5% in 2020, registering the largest setback since the 1940’s.
• Little progress has been made on the $1.9 trillion dollar, American Rescue Plan, as it is being met with heavy resistance leaving it uncertain how much of the plan will be passed.
• The path of the recovery will continue follow the path of the pandemic and barring any setbacks, activity is poised to pick up over second and third quarters of the year.