Market Updates

Weekly Economic Update: October 3, 2022

• Yields increased over the week with the two-year Treasury note rising by seven basis points to 4.28% while the five-year note increased by eight basis points to 4.07%

• Core PCE exceeded expectations in August advancing by 0.6% for the month and 4.9% over the year marking the fastest increase of the current cycle

• Personal spending advanced by a robust 0.4% in August as consumers remain supported by labor markets that so far, have been indifferent to the multiple, outsized rate hikes by the Fed to slow the economy

• The Fed and investors alike will keep a close eye on labor markets this week with JOLTS job openings due out tomorrow, and non-farm payrolls due out on Friday as spectators look for any signs of slowing in response to the Fed’s ongoing restrictive policy

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