Source: US Dept. of Treasury End of Day
• Interest rates moved higher with the yield on the 2-year Treasury note rising by ten basis points to 4.39% while the 5-year note increased by sixteen basis points to 4.58%.
• The December jobs report surprised to the upside as the economy added 256 thousand workers to payrolls versus an expected 165 thousand while the unemployment rate dropped from 4.2% to 4.1%.
• Average hourly earnings advanced by a monthly 0.3% and annual 3.9% as wage growth remains healthy while average weekly hours went unchanged at 34.3.
• The preliminary University of Michigan Sentiment Index for December was largely unchanged from November, however, year ahead inflation expectations surged from 2.8% to 3.3% while 5-10 year inflation expectations jumped from 3.0% to 3.3%.
• Click the link below to read more.
