1 Mo 5.49   |   2 Mo 5.50   |   3 Mo 5.46   |   4 Mo 5.44   |   6 Mo 5.40   |   1 Yr 5.17   |   2 Yr 4.89   |   3 Yr 4.78   |   5 Yr 4.64   |   7 Yr 4.66   |   10 Yr 4.65   |   20 Yr 4.88   |   30 Years 4.78   |  

Source: US Dept. of Treasury End of Day

Market Updates

Weekly Economic Update: March 4, 2024

• Yields finished the week lower with the two-year Treasury note falling by fourteen basis points to 4.54% while the five-year note dropped by twelve basis points to 4.16%.

• January’s PCE data came in as expected with the headline and core rates advancing by 0.3% and 0.4% respectively, however the closely Fed-followed Supercore rate, which measures price changes for services but excludes housing and energy, surged by 0.6%.

• Consumption expectedly downshifted in January as real personal spending contracted by -0.1% yet households remain equipped to spend, with personal income attributable to wages advancing by 0.4% during the month.

• Last week’s economic data ended on a somber note with survey responses from the Conference Board and the University of Michigan coming in broadly below expectations implying consumers are becoming less enthusiastic about the economy.

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