Weekly Economic Update: May 4th, 2020
• Bond yields fell slightly last week as two-year and five-year Treasury notes decreased by 2 basis points to yields of 0.20% and 0.35% respectively.
• Led by a significant drop in consumer spending, the first look at Q1 GDP registered at -4.8%.
• 3.8 million more Americans filed for unemployment last week bringing the 6-week total to over 30 million. The March jobs report will be released on Friday and economists are expecting unemployment to climb near 20%.