Economic and Fixed Income Insights, October 8, 2019

Payroll data last Friday was the weakest in four months. Employers added 136,000 jobs in September, slightly fewer than the 145,000 expected by Bloomberg. Wages were stagnant. The jobs report punctuated an already disappointing week for economic data, and yields finished lower along the curve as a result. The benchmark ten-year Treasury finished 11 basis points lower for the week.  The long bond dropped six basis points.  Tax-exempt yields also trended lower with both the ten-year and 30-year MMD down 12 basis points to 1.29 percent and 1.88 percent respectively.

Interest Rate Observations

Source: Thomson Reuters, Bloomberg. The table above reflects market conditions as of October 8, 2019.

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