Market Updates

Weekly Economic Update: June 27, 2022

• Yields fell during the week with the two-year Treasury note decreasing by 11 basis points to 3.08% while the five-year note dropped by 16 basis points to 3.19%

• Existing home sales fell for a fourth consecutive month as the median price for existing homes surged to an all time high of 407 thousand

• Soft economic readings and recession fears have circulated throughout headlines in June as housing, retail and manufacturing have all been showing signs of slowing, and now the labor market albeit still strong, may be showing signs of weakness as news emerges of layoffs and rescinded offers in rate sensitive sectors such as tech and mortgage lending

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