Weekly Economic Update: October 5th, 2020
• Treasury yields remained flat during the week with the two-year Treasury note falling by one basis point to 0.13% while the five-year note increased by one basis point to 0.28%.
• Equities bounced back last week on stimulus hopes as all three major indexes finished in the green, halting four weeks of consecutive losses.
• The labor market added 661 thousand jobs in September—the smallest increase since governments began to ease lockdown restrictions, signifying that the labor market and ongoing recovery, are losing momentum.
• Additional assistance for state and local governments remains one of the key focal points of disagreement among lawmakers, the recent stimulus bill introduced by house democrats may have received a boost from the latest jobs report as public sector employment was the weakest out of all, shedding 182 thousand from payrolls in September.