Market Updates
Weekly Economic Update: February 3, 2025
• Rates finished the week lower with 2-year Treasury note yields falling by 6 basis points to 4.22% while 5-year note yields decreased by ten basis points to 4.33%.
• Real GDP advanced by an annualized 2.3% in the final quarter of 2024 and was powered by consumer spending which accelerated by an outsized 4.2% signaling that the economy continues to expand at a solid pace.
• The Fed favored inflation gauge, core PCE, went unchanged from the prior two months advancing by an annual 2.8% in December as price growth remains elevated above the Fed’s 2% target.
• The week brings an abundance of labor oriented economic data and notably, the first jobs report of 2025 due out on Friday where forecasts are predicting job creation of 170 thousand – a notable step down from December’s blockbuster report of 256 thousand.
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