Market Updates

• Rates plunged during the week with the 2-year Treasury note yield falling by 19 basis points to 4.01% while the 5-year Treasury note yield fell by 25 basis points to 4.03%.

• The PCE price index reading for January was in line with expectations advancing by a monthly 0.3% and an annual 2.6% signaling that the disinflationary trend may be set to resume.

• Real personal spending pulled back in January by -0.5% versus an expected -0.1% as consumers took a step back to begin the year.

• Personal income advanced by a solid 0.9% versus a forecasted 0.4% which could allow consumers to pick up spending in the months ahead.

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