Source: US Dept. of Treasury End of Day
• Yields rose during the week with the two-year Treasury note jumping by 14 basis points to 4.11% while the five-year note increased by 17 basis points to 4.06%.
• Durable goods orders delivered another upside economic growth surprise with capital goods orders for non-defense excluding air advancing by 0.5% versus an expected 0.1% in September and notched the first consecutive monthly increase in 2024.
• Data surrounding the labor market for the first two weeks of October showed resilience with a less than expected number of workers filing for unemployment while continuing jobless claims was right in line with economic forecasts.
• A light week of economic data lies ahead but notable releases include the Fed’s beige book, which will display how the Fed is evaluating the current state of the economy, and October’s final UM sentiment reading, that gauges how consumers are feeling on economic conditions and inflation.
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