Source: US Dept. of Treasury End of Day
• Yields remained constant with the two-year Treasury note going unchanged at 0.15% while the five-year note increased by one basis point to 0.82%.
• The April minutes released from the last FOMC meeting marked the first time the Fed acknowledged the possibility of slowing asset purchases stating it would be appropriate if the economy continued to show rapid growth.
• The economy is generating goods and services at pre-pandemic levels but with 8.2 million fewer workers signaling that companies have become more efficient by embracing technology, undergoing compositional changes in the work force, and perhaps a change in work environment—multiple studies have shown that remote work leads to higher productivity among employees.
