Market Updates

Weekly Economic Update: October 12th, 2021

• Yields increased over the week as the two-year Treasury note climbed by five basis points to 0.32% while the five-year note increased by eight basis points to 1.01%.

• Equities finished the week marginally higher as a temporary agreement was reached in Washington to increase the debt ceiling by $480 billion, however it is only expected to table the conversation until December, at which point further negotiations will need to resume.

• Covid cases, hospitalizations and deaths have all recently fallen as vaccination rates steadily climb setting the stage for the recovery to build momentum, but investors and markets alike remain cautious as we have come to know the path of the virus to be quite unpredictable.

• The September jobs report disappointed with 194k jobs created compared to an expected 500k, the public sector dragged as schools continue to struggle to find qualified educators as early retirements and health concerns plague the sector.

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