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: May 22, 2023

• Yields increased last week with the two-year Treasury note rising by 26 basis points to 4.26% while the five-year note increased by 29 basis points to 3.74%.

• Retails sales advanced below expectations at 0.4% versus an expected 0.7% on a nominal basis as consumers appear to be pulling back on discretionary spending.

• Markets are hopeful for compromise regarding continued debt ceiling discussions with a meeting slated for this afternoon between congressional leaders and The White House.

• Ongoing Fed rhetoric provided a hawkish tone over the week emphasizing sticky inflation and a tight labor market however, markets are still fully pricing in a rate cut to occur by November of this year.

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