Yields on 5- to 10-year Treasury securities initially declined markedly as markets priced in prospective Fed purchases; these yields subsequently rose, however, as investors became more optimistic about economic growth and as traders scaled back their expectations of future securities purchases.
That said, going forward, relatively low unemployment and rising disposable incomes may counter to some extent the factors tending to restrain household spending. Although spending by the household sector is showing signs of moderation, other sectors of the economy retain considerable momentum. According to the available data, business investment appears to have risen briskly, on net, so far this year.