Daily Trends

2-year Treasury, 10-year Treasury, Fed Funds The 2yr was down 23bps – likely recession fears – today, the Bank of England started a bond buying program to stabilize their financial system, and in general, there’s a fear that if a European recession occurs, it might be contagious.  The 10yr was down 25bps. Fed Funds, 2yr…

2-year Treasury, 10-year Treasury, Fed Funds The 2yr was up 3bps.  Settling somewhat after a 28bps increase over the last five days.  It’s possible the market is waiting on Thursday’s GDP numbers and Friday’s Core PCE numbers. The 10yr was up another 9bps (28bps in two days) – possibly due to the ramped up QT,…

Rates 2yr Treasury – increased 9bps (again). 10yr Treasury – decreased by 1bps. Commentary With a resolute Fed and a market expectation of another 50 or 75bp rate hike in early November, the 2yr keeps climbing. The coming week’s speeches/interviews will provide more clarity.