1 Mo 5.56   |   2 Mo 5.53   |   3 Mo 5.46   |   4 Mo 5.51   |   6 Mo 5.44   |   1 Yr 5.21   |   2 Yr 4.93   |   3 Yr 4.71   |   5 Yr 4.53   |   7 Yr 4.49   |   10 Yr 4.46   |   20 Yr 4.65   |   30 Years 4.57   |  

Source: US Dept. of Treasury End of Day

Market Updates

Weekly Economic Update: September 25, 2023

• Yields increased over the week with the two-year Treasury note rising by seven basis points to 5.11% while the five-year note increased by twelve basis points to 4.58%.

• The FOMC held the benchmark interest rate steady at an upper bound of 5.50% but set a hawkish tone by implying they may raise the Fed funds rate one more time this year.

• The Fed’s Summary of Economic Projections showed an upwardly revised growth forecast from 1.0% to 2.1% while forecasts for inflation and unemployment were revised lower as the economy continues to prove resilient.

• Despite the current strength, external pressures to growth are continuing to build with student loans resuming in October, pandemic childcare relief ending, and while the risk of a government shutdown looms.

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