Source: US Dept. of Treasury End of Day
• Rates moved lower last week with the 2-year dropping 8 basis points to 4.10% while the 5-year Treasury notes increased 5 basis points to 5.05%.
• Massive capital spending on artificial intelligence and rising stock portfolios are bolstering growth and bridging the gap as overall consumer momentum slows.
• Average hourly earnings grew just 3.0 percent annually in September, marking six straight months of declining real wages and forcing households to lower their savings rate.
• September payroll growth slowed to 29,000 while the unemployment rate ticked up to 4.2 percent due to labor force re-entrants, reducing the odds of an October rate hike.
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