Market Updates

Weekly Economic Update: October 19th, 2020

• Treasury yields moved slightly lower during the week as the two-year Treasury note fell by two basis points to 0.15% while the five-year note also declined by two basis points finishing at 0.32%.

• Equities pushed incrementally higher on stimulus hopes even as it is highly unlikely that a deal will be made before the election.

• Despite September retail sales outperforming, a dismal economic outlook still prevails as the majority of states are seeing a surge in coronavirus cases forcing officials to consider reimposing lockdown restrictions that initially sent the economy into a tailspin.

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