Source: US Dept. of Treasury End of Day
•Yields increased over the week with the two-year Treasury note rising by 5 basis points to 4.52% while the five-year note increased by 6 basis points to 4.17%.
• Retail sales in June beat expectations registering a flat reading for the month versus analyst forecasts for a -0.3% contraction, however, the control group which strips out volatile items and feeds directly into the consumption reading of GDP, advanced by a robust 0.9%.
• The Fed will meet next at the end of the month where no rate cut is expected, instead Fed funds futures markets are pricing in the FOMC to begin cutting interest rates at their following meeting scheduled for September 18th.
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