For the past 2 weeks, 10 Year Treasury rates were unchanged. Past week: up 4bp. On 5.3.23 the Fed made an announcement that broadly hinted that future rate increases would be in a “wait and see mode” Concerns over the Debt Ceiling were resolved on 5.30.23.
The red line is the most current rate while the green line is from one week ago.
The entire yield curve for the 2-year terms increased by 19bp with a longer-term increase of 12bp. This made the inverted yield curve steeper. One-month rates were DOWN 5bp.
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