Source: US Dept. of Treasury End of Day
• Interest rates fell over the week with the 2-year Treasury note yield falling by 11 basis points to 3.52% while the 5-year Treasury note also decreased by 11 basis points, finishing the week at 3.59%.
• August nonfarm payrolls came in weaker than expected as the labor market generated 22 thousand jobs versus an expected 75 thousand while the unemployment rate increased to 4.3%.
• The prior two months of nonfarm payrolls were revised down by a combined 21 thousand jobs while average weekly hours fell unexpectedly, signaling a slowdown in demand for workers.
• The week brings a plethora of fresh economic data that has the ability to influence Fed policy with PPI inflation on Wednesday, CPI on Thursday, and unemployment claims on Friday.
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