1 Mo 5.49   |   2 Mo 5.50   |   3 Mo 5.46   |   4 Mo 5.44   |   6 Mo 5.40   |   1 Yr 5.17   |   2 Yr 4.89   |   3 Yr 4.78   |   5 Yr 4.64   |   7 Yr 4.66   |   10 Yr 4.65   |   20 Yr 4.88   |   30 Years 4.78   |  

Source: US Dept. of Treasury End of Day

Market Updates

Weekly Economic Update: September 9th, 2019

• Yield on the two-year Treasury note increased by four basis points during the week to a yield of 1.55%. The ten-year note climbed seven basis points to a yield of 1.57% undoing the recent inversion between the two maturities. The inversion of the three-month Treasury bill and the ten-year Treasury note remains, but narrowed from -50 basis points to -34 basis points.

• Equities made modest gains during the week as new trade hopes rose on the news that the U.S. and China will resume trade talks in October, giving investors hope that a solution towards a trade resolution is proceeding.

• Non-farm payrolls came in weaker than expected. Total payrolls increased by 130 thousand, which was below the expectation of an increase of 165 thousand jobs. Non-farm payroll growth has now decelerated through the first eight months of 2019 to 153 thousand from 223 thousand in 2018.

• The Fed is scheduled to meet September 18th and markets are fully pricing in another rate cut. Odds of another 25 basis point cut are significantly greater at 94% compared to a 50 point cut at only 6% probability.

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