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: October 10, 2023

• Yields moved higher with the two-year Treasury note rising by two basis points to 5.07% while the five-year note increased by fourteen basis points to 4.76%.

• The economy added 336 thousand to payrolls in September nearly doubling expectations as the labor market remains tight, however, wage growth was soft with average hourly earnings advancing by a slim 0.2%.

• Labor force participation continued its upward trend advancing to 62.8% in September with the prime age cohort leading the way as 25-54 year old worker participation made a two decade high of 83.5%.

• The Fed is likely to remain neutral on the latest jobs data as robust growth in the labor market was met with a tepid increase in earnings and at current, markets are only pricing in around a 30% probability of another rate hike for the remainder of the year.

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