Source: US Dept. of Treasury End of Day
• Interest rates rose last week with the 2-year Treasury note yield increasing by 10 basis points to 4.01% while the 5-year Treasury note increased by 7 basis points to 4.09%.
• Inflation looked tame in April with both headline and core CPI readings registering a less than expected 0.2% for the month while advancing by a yearly 2.3% and 2.8%, respectively.
• April’s Producer Price Index reinforced the disinflationary trend shown in the CPI data as wholesale inflation contracted by a monthly -0.5% and advanced at an annual 2.4% while core PPI clocked a monthly -0.4% and yearly 3.1%.
• April’s retail sales report appeared soft on the surface advancing by a slim 0.1% while the control group that feeds into GDP contracted by -0.2% however, March’s robust figures were revised even higher as consumers pulled forward demand to get ahead of potential tariff induced price hikes.
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