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 16, 2022

• Yields fell over the week with the two-year Treasury note decreasing by 19 basis points to 2.52% while the five-year note fell by 22 basis points to 2.86%.

• Headline CPI advanced by 0.3% in April which appeared soft on the surface however, energy was a large drag as core CPI increased by a robust 0.6% doubling March’s reading.

• The ongoing shift in demand from goods to services continues to sustain upward pressure on prices with annual inflation for core services advancing by 4.9% - a rate not seen in more than 30 years.

•With inflation continuing to erode consumer purchasing power, the University of Michigan household sentiment index showed a steep drop of 6.1 points hitting a 10-year low, which should not come as a surprise as real hourly earnings have decreased for 13 consecutive months.

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