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Recent Economic Commentary
Brandon Casey - 4/16/2021
U.S. stocks edged higher Friday as both the DJIA and S&P 500 set new all-time highs amid strong corporate earnings. Looking at economic data Friday, housing starts surged 19% in March to 1.74 million, well above expectations after a slowdown caused by weather in February. Building permits also rose during the month, increasing 2.7% to an annual rate of 1.77 million. Elsewhere, the preliminary University of Michigan Consumer Sentiment Index rose to 86.5 in April, 1.6 points higher than the final March reading. The current conditions component saw an increase, while the expectations component was unchanged.
U.S. Treasury yields are higher this morning, with the 2-year Treasury yield up 0.4 basis points to 0.16%, the 5-year Treasury yield up 2.9 basis points to 0.82% and the 10-year Treasury yield up 4.3 basis points to 1.57%. Advance rates are lower throughout the curve today.