1 Mo 5.53   |   2 Mo 5.50   |   3 Mo 5.45   |   4 Mo 5.43   |   6 Mo 5.30   |   1 Yr 5.01   |   2 Yr 4.64   |   3 Yr 4.43   |   5 Yr 4.26   |   7 Yr 4.28   |   10 Yr 4.25   |   20 Yr 4.51   |   30 Years 4.38   |  

Source: US Dept. of Treasury End of Day

Market Updates

Weekly Economic Update: July 24, 2023

• Yields moved higher over the week with the two-year Treasury note rising by eleven basis points to 4.86% while the five-year note increased by five basis points to 4.10%.

• Retail sales advanced by a less than expected 0.2% in June, the lowest reading in three months as consumers appeared to cut down on spending, however, the previous month was revised up to a robust 0.5%.

• The control group of retail sales, which feeds directly into GDP, advanced by a more than expected 0.6% in June perhaps supporting another above trend GDP growth reading for the previous quarter as the consumer, and the economy remain resilient.

• The Fed meets tomorrow and Wednesday where it is expected they will raise the fed funds rate by another 25 basis points to an upper bound 5.50% and with disinflation currently underway, many believe this could be the last rate hike of the cycle.

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