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Yields on 3-month and 10-year Treasuries have moved in different directions.
According to Tradeweb data:
|
U.S. Treasury Yields (change in bps) |
|||||
|
Security |
Current |
Close: 3/20/2018 |
Change |
Close: 12/29/2017 |
Change |
|
1-month |
1.703% |
1.690% |
1.3 |
1.261% |
44.2 |
|
3-month |
1.746% |
1.800% |
-5.4 |
1.391% |
35.5 |
|
6-month |
1.950% |
1.968% |
-1.8 |
1.535% |
41.5 |
|
2-year |
2.316% |
2.337% |
-2.1 |
1.891% |
42.5 |
|
10-year |
2.907% |
2.881% |
2.6 |
2.411% |
49.6 |
|
30-year |
3.129% |
3.112% |
1.7 |
2.741% |
38.8 |
The 3-month bill’s yield is down 5.4 bps, and is on track for its largest daily drop since October 2016, although it is still near its highest closing point since August 2008.
The 10-year note’s yield is up 2.6 bps, and nearing the close of 2.941% reached on February 21, which was its highest close since January 2014.
This movement has helped push the 3-month/10-year yield spread up by 8.0 bps to 115.9 bps from yesterday’s close of 107.9 bps.
Treasuries with both shorter and longer maturities have seen large basis point increases so far in 2018.
Today, the Federal Reserve raised the target rate for federal funds by 25 bps to 1.50-1.75% and predicted inflation would pick up in coming months.
This is based on indicative, real-time data from Tradeweb as of 3:00 PM ET.
CHART 1: 3-Month/10-Year Yield Spread – March 22, 2017 – March 21, 2018 (12-Month View)
