Source: US Dept. of Treasury End of Day
• Yields fell over the week with the two-year Treasury note decreasing by 14 basis points to 4.86% while the five-year note fell by 19 basis points to 4.51%.
• Job growth moderated in April with 175 thousand workers being added to payrolls versus an expected 240 thousand.
• The unemployment rate increased slightly from 3.8% to 3.9% while wage growth moderated from 4.1% to 3.9%.
• The FOMC met last Wednesday where they held the fed funds rate steady at 5.375% and announced plans to begin slowing the pace of balance sheet run off in effort to avoid turbulence in short-term funding markets.
