For the past 2 weeks, 10 Year Treasury rates were unchanged. In the past week, they went up by 4bp. On 5/3/23, the Fed made an announcement that broadly hinted future rate increases would be in a “wait and see mode”. Concerns over the Debt Ceiling were resolved 5.30.23.
Red line represents the current rates, while the green line represents rates from one week ago. The entire yield curve for the 2 year terms increased 19bp with the longer term increased 12bp. This made the inverted yield curve steeper. One month rates were down 5bp.
Bill Knudson, Research Analyst LANDCO ARESC