Market Updates

• Yields increased over the week with the two-year Treasury note rising by three basis points to 4.77% while the five-year note increased by ten basis points to 4.38%.

• Core PCE matched expectations advancing by 0.1% in May and 2.6% over the trailing 12 months, down from a respective 0.3% and 2.8% in April as the disinflationary trend appears to be reemerging.

• Consumers bounced back in May with real personal spending increasing by 0.3% in the month and was more than supported by a 0.5% jump in personal income.

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