From the Desk - Economic Commentary
Scott Hofer - 4/13/2021
U.S. equities and Treasury yields are mixed as investors mull over the impact of Consumer Price Index reading today. The CPI posted a better than expected reading of 0.6% in March, the largest rise since August 2012, and 2.6% year over year. The 9.1% increase in the gasoline index accounted for nearly half of the month over month rise. Backing out food and energy, the month over month and year over year rise in the index was 0.3% and 1.6%, respectively. Turning to small business outlook, the NFIB Small Business Optimism Index rose 2.4 points in March to 98.2 and the Uncertainty Index increased six points to 81, marking owners uncertainty over timing to expand their business and making capital expenditures in the months ahead.
U.S. Treasury yields are mixed this morning with the 2-year Treasury yield up 0.2 basis points to 0.16%, the 5-year Treasury yield down 0.6 basis points to 0.88% and the 10-year Treasury yield down 0.5 basis points to 1.67%. Advance rates are a basis point higher at 3 years and greater.
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