Economic and Fixed Income Insights, January 15, 2020

U.S. employers added 145,000 jobs in December, below the 160,000 expected, according to Bloomberg. Like hiring, wage growth has also slowed, calling into question the real strength of the labor market after November’s surge. Markets had little reaction to the news, focused instead on the signing of the Phase One trade deal with China.  Fixed income yields were little changed from recent highs after news of the agreement sent stocks to fresh records. The ten-year benchmark finished one basis point lower for the week, and tax-exempt rates were mostly steady along the curve.

Interest Rate Observations

Source: Thomson Reuters, Bloomberg. The table above reflects market conditions as of January 15, 2020.

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