Commentary:
Moderate decrease in Treasuries following the Fed's FOMC 5.1.24 meeting at which they announced they would slow their US Treasury portfolio runoff.
Upcoming Key Economic Data Release:
The next Fed meeting is 6.12.24 It is anticipated the Fed may or may not lower rates at 6.12.24 meeting
--
The next new job release is 5.3.24. (Increased from 275,000 to 303,000 on 4.5.24 unemployment 3.8%)
--
The next inflation release is 5.15.24. (Annual increased from 3.2% to 3.5% on 4.10.24)
For the past week, 10-year Treasury rates were down 126bp. The net change in 2 weeks is up 6bp.
The red line is the most current rates while the green line is from 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.
Comments