1 Mo 5.53   |   2 Mo 5.50   |   3 Mo 5.45   |   4 Mo 5.43   |   6 Mo 5.30   |   1 Yr 5.01   |   2 Yr 4.64   |   3 Yr 4.43   |   5 Yr 4.26   |   7 Yr 4.28   |   10 Yr 4.25   |   20 Yr 4.51   |   30 Years 4.38   |  

Source: US Dept. of Treasury End of Day

Market Updates

Weekly Economic Update: May 17th, 2021

• Yields on the front end of the curve remained unchanged as the two-year Treasury note remained constant at 0.15% while medium to longer tenures increased slightly with the five-year Treasury note increasing by three basis points to 0.81%.

• More hot inflation readings spooked equity markets earlier in the week with Core CPI registering a 0.8% increase and the Producer Price Index registering a 0.6% increase.

• A closer look into the Core CPI reading warrants less shock as nearly 40% of the increase was attributable to a jump in prices of used cars stemming from retention of rental fleets as well as chip shortages constraining new car production.

• Prices still have room to rise as key service industry prices are well below their pre-pandemic levels—prices of hotel bookings are still down 6% and airfare is still down 18% compared to February 2020 levels.

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