1 Mo 5.54 | 2 Mo 5.53 | 3 Mo 5.44 | 4 Mo 5.49 | 6 Mo 5.39 | 1 Yr 5.13 | 2 Yr 4.71 | 3 Yr 4.45 | 5 Yr 4.24 | 7 Yr 4.28 | 10 Yr 4.23 | 20 Yr 4.49 | 30 Years 4.31 |
Market Updates
Weekly Economic Update: July 11, 2022
• Yields pushed higher during the week with the two-year Treasury note rising by 28 basis points to 3.12% while the five-year note increased by 24 basis points to 3.13%
• The economy added a robust 372 thousand jobs in June compared to an expected 265 thousand, easing recession fears and signaling continued strength in the labor market
• Average hourly earnings advanced by 0.3% in June and 5.1% over the past year, however hourly earnings have only increased by 4.2% at an annual rate over the quarter providing evidence of easing wage pressures
• With June’s CPI data to be released on Wednesday and consensus calling for a firm 1.1% for the month and 8.8% year over year, markets are pricing the Fed to raise the benchmark interest rate by another 75 basis points at their upcoming meeting slated for July 26-27