Volatility across asset classes remains elevated as market participants continue to recalibrate expectations on the trajectory of monetary policy, the subsequent impact on asset valuations, and the overall impact to the domestic and global economy.
This week featured a robust set of economic data supportive of a more restrictive Federal Reserve monetary policy. The U.S. economy added 431,000 jobs in March, with upward revisions from the prior months totaling 95,000.
Financial markets were mixed this week as Treasury yields increased amid ongoing developments in the Russia-Ukraine war and its impact on the global economy. The U.S. Treasury yield curve flattened as 2-year Treasury yields increased to approximately 2.30% while the 10-year Treasury yield increased to around 2.55%.
