1 Mo 5.56   |   2 Mo 5.53   |   3 Mo 5.46   |   4 Mo 5.51   |   6 Mo 5.44   |   1 Yr 5.21   |   2 Yr 4.93   |   3 Yr 4.71   |   5 Yr 4.53   |   7 Yr 4.49   |   10 Yr 4.46   |   20 Yr 4.65   |   30 Years 4.57   |  

Source: US Dept. of Treasury End of Day

Market Updates

Weekly Economic Update: May 1, 2023

• Yields fell over the week with the two-year Treasury note dropping by seventeen basis points to 4.00% while the five-year note fell by eighteen basis points to 3.49%.

• Real GDP advanced by 1.1% in Q1 2023 with consumer spending buoying growth with a robust 3.7% reading while inventory drawdowns, business spending and residential outlays dragged on growth.

• Despite strong consumer spending, momentum is fading as personal consumption was flat in March, albeit beating expectations, it marks a third consecutive drop in the figure.

• Despite the failure of First Republic Bank over the weekend, the Federal Reserve is poised to follow through with another 25-basis point hike in the Fed funds rate bringing the upper bound to 5.25% as they continue to fulfill their mandate of stabilizing price levels.

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