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Economic and Fixed Income Insights
Inflation cooled slightly last month as a decline in gasoline prices kept a lid on price pressures. The consumer-price index, which measures what Americans pay for most goods, increased 0.2% in February after rising a seasonally adjusted 0.5% in January, according to the Labor Department. In other economic news, the Commerce Department reported that retail sales declined for a third straight month as households curbed purchases of cars and other consumer items. In the bond market, yields have experienced some volatility with divergence in the taxable and tax-exempt trends. Treasuries trended lower for the week with the 10-year UST and 30-year UST both 5 basis points lower to 2.84% and 3.10% respectively. In contrast, tax-exempt yields were slightly higher along the curve. The 10-year MMD finished 4 basis points higher to yield 2.51%, and the 30-year MMD ticked up to 3.07%.
Interest Rate Observations
|Federal Funds Rate||1.50%||1.50%||0||1.00%||50|
|10-year LIBOR Swap||2.89%||2.90%||(1)||2.47%||43|
Source: Thomson Reuters, Bloomberg. The table above reflects market conditions as of March 13, 2018.
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