NO but if it continues next year it might be more worrysome. sounds like a natural thing that many of nine do when first planted...of course without seeing it it is pure conjecture.
Wrapping is fine around stakes around tree but not tree trunk itself...be sure to mulch well 6-8" away from trunk. David

I might add look for viable buds up and down the branches below ( before) the leaves... if there are none then maybe you do have a prob... but as i said it's hard to tell from your description and often folks describe things that confuse us.. David

Thanks for the advice, David