Source: US Dept. of Treasury End of Day
• Interest rates increased slightly over the week with the 2-year Treasury note yield rising by one basis point to 3.90% while the 5-year Treasury note rose by four basis points to 3.98%.
• Initial unemployment claims came in lower than expected, depicting a job market that is not shedding workers at a concerning rate, however, continuing claims continued to rise, reaching levels not seen in more than 3 years as job seekers are having difficulty landing new positions.
• The minutes from the last FOMC meeting reiterated the Fed’s cautious approach to resuming easing policy as they size up effects from the implementation of tariffs on price stability and economic growth.
• The week brings a slate of fresh economic data for June with CPI on Tuesday, PPI Wednesday and retail sales on Thursday.
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