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From the Desk - Economic Commentary

Brandon Casey, Member Strategist - 5/21/2024

U.S. stocks are mixed Tuesday as investors monitor Fed comments throughout the week. Both the S&P 500 and Nasdaq finished higher Monday, with the Nasdaq closing at a record high, while the DJIA edged lower. The consensus of Fed comments on Monday was that officials need to see more evidence that inflation is headed towards the Fed’s goal until rate cuts are considered.

U.S. Treasury yields are lower this morning, with the 2-year Treasury yield down 1.1 basis points to 4.83%, the 5-year Treasury yield down 2.3 basis points to 4.43%, and the 10-year Treasury yield down 2.3 basis points to 4.41%. Longer-term advance rates are lower today.

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