Economic Update
Stocks are falling Friday as investors remain concerned about the state of the banking sector. Despite the volatility, all 3 major averages are on track to post weekly gains. The S&P is on pace for its best week since Jan and the Nasdaq since Nov.

For economic data, industrial production was flat in Feb, matching expectations. The manufacturing sector was up 0.1% for the month. Capacity utilization was also fat from the Jan level at 78.0%.

The initial March University of Michigan Consumer Sentiment Index fell to 63.4, versus expected 66.9. Both current conditions and expectations were lower than expected. Year-ahead inflation expectations were 3.8%, down from 4.1% last month.

Treasury yields are lower, with the 2-year T yield down 9.2 basis points to 4.04%, the 5-year T yield down 15.6 basis points to 3.58%, and the 10-year T yield down 11.7 basis points to 3.47%. Advance rates are mostly lower from yesterday’s final levels. With current market volatility, be sure to check the FHLB website for the latest rate indications.
No comments yetBe the first to add your insight!



Already have an account?