Source: US Dept. of Treasury End of Day
• Interest rates rose over the week with the 2-year Treasury note yield rising by five basis points to 3.93% while the 5-year Treasury note ticked one basis point higher to 3.96%.
• Initial jobless claims came in lower than expected as employers are hesitant to reduce headcount, however, the pace of hiring is sluggish with continuing claims rising to their highest level in nearly four years.
• Newly reached trade agreements with trading partners have sparked optimism in financial markets and should provide the Fed with more clarity about the future impact of tariffs on growth and inflation.
• The week brings an abundance of economic data with the June JOLTS jobs report and July’s Conference Board Consumer Confidence Index on Tuesday, the first estimate of Q2 GDP and a Fed meeting on Wednesday, and the July Jobs report on Friday.
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