Market Updates

Weekly Economic Update: October 17, 2022

• Yields increased over the week with the two-year Treasury note rising by twenty basis points to 4.51% while the five-year note increased by twelve basis points to 4.27%

• Headline CPI advanced by 0.4% in September and 8.2% year over year while core CPI advanced by 0.6% for the month and 6.6% year over year – the fastest yearly increase in forty years

• Price increases for services increased at an annual clip of 6.7% outpacing goods for the first time this cycle as consumers continue to shift spending away from goods and while supply chains ease leaving retailers stuck with excess inventories

• Consumers were still spending in September as the control group of retail sales increased by a sturdy 0.4% and while spending out at restaurants and bars advanced by a robust 0.5%

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