The next graphic shows the unusual volatility of the 10-year Treasury we experienced over the past two weeks. Rates spiked on June 7 when the New Jobs report came in at the 272,000 level. Only to be partially reversed with the encouraging CPI data on June 12
Upcoming Key Economic Data Release:
Next new job release is 7.5.24.
Next inflation release 7.11.24
Next Fed meeting is 7.31.24
For the past week, 10-year Treasury rates were DOWN 4bp. Net change in 2 weeks is DOWN 31bp.
The red line is the most current rate while the green line is one week ago. Longer-term rates decreased more relative to shorter-term rates, as such the inverted yield curve is MORE steep.
For terms 5+ years, the Yield Curve is BARELY positive.
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