1 Mo 5.49   |   2 Mo 5.50   |   3 Mo 5.46   |   4 Mo 5.44   |   6 Mo 5.40   |   1 Yr 5.17   |   2 Yr 4.89   |   3 Yr 4.78   |   5 Yr 4.64   |   7 Yr 4.66   |   10 Yr 4.65   |   20 Yr 4.88   |   30 Years 4.78   |  

Source: US Dept. of Treasury End of Day

Market Updates

Weekly Economic Update: July 10, 2023

• Yields moved higher over the week with the two-year Treasury note rising by six basis points to 4.96% while the five-year note surged by 22 basis points to 4.37%.

• The economy added a less than expected 209 thousand workers to payrolls in June while the two-month revision removed 110 thousand jobs as the labor market, albeit still strong, continues to soften.

• The lower number of jobs added in June, and the significant 496 thousand decrease in job openings was certainly welcoming to a Fed aiming to slow the economy, however less welcoming was that wages were strong advancing by 0.4% in the month while the number of hours ticked up to 33.4.

• Markets this week will be focused on June’s CPI report due out Wednesday where consensus expectations are for a slowdown in the headline print to an annual advance of 3.1% and 5.0% on the core reading.

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