Source: US Dept. of Treasury End of Day
• Interest rates were little changed last week with the 2-year Treasury note yield rising by two basis points to 3.49% while the 5-year note increased by one basis point to 3.61%.
• September’s CPI report came in softer than expected with headline inflation advancing by a monthly 0.3% and yearly 3.0% while core inflation advanced by 0.2% and 3.0% respectively.
• The September CPI report provided the Fed with room to lower borrowing costs this week; however, inflation remains elevated above target and economists expect the pass through of tariffs to accelerate in coming months further supporting faster price growth.
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