1 Mo 5.31 | 2 Mo 5.31 | 3 Mo 5.55 | 4 Mo 5.54 | 6 Mo 5.52 | 1 Yr 5.22 | 2 Yr 4.46 | 3 Yr 4.10 | 5 Yr 3.81 | 7 Yr 3.75 | 10 Yr 3.69 | 20 Yr 4.06 | 30 Years 3.90 |
Market Updates
Weekly Economic Update: January 18th, 2022
• Yields increased last week with the two-year Treasury note rising by twelve basis points to 0.96% while the five-year note increased by six basis points to 1.56%.
• Consumers pulled back as retail sales disappointed with December sales coming in well below expectations at -1.9% versus an expected -0.1%, what’s more is that the contraction was broad across sectors and surprisingly led by online sales.
• Wage growth remains persistent and strong on a nominal basis as hourly wages have increased 4.7% over the past year, however when factoring in steep inflation prints month over month, real wages have actually contracted -2.4%.
• The Fed is in a tough situation with the Omicron variant keeping a lid on growth, inflation persistently running hot, and 3.5 million workers still on the sidelines with their return becoming increasingly indefinite.