For the past 2 weeks, 10 Year Treasury rates have been up 28bp. In the past week, they were up 26bp. Every day for the past week, rates increased by a modest amount. No major change, an accumulation of small increases. On May 3rd, 2023, the Fed made an announcement that broadly hinted that future rate increases would be in a “wait and see mode”.
The red line represents the current rates, while the green line represents rates from one week ago. The yield curve for the 1-2 year terms increased by 33bp while the longer term was up 26bp. One month rates were down by 22bp. The yield curve inversion also increased.
