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Treasury Rates Update: February 22nd, 2024

Upcoming Key Economic Data Release:

  • The next new job release is 3.8.24.  Most recent past: 2.1.24 New jobs data for January released 353,000  A robust amount.  In response to the jobs numbers, 10-year Treasuries rose 28bp over inflation concerns and when the Fed will make their future rate cuts.

  • The next inflation release is 3.12.24.  Most recent past: 2.13.24 CPI decreased from 3.3% to 3.1%

  • No Fed meeting in February (March 20 is the next meeting)   In the most recent past 1.31.24 the Fed kept rates unchanged however they clearly indicated that up to 3 rate cuts were a distinct possibility later in 2024.

 

For the past week, 10-year Treasury rates were up 6bp. The net change in 2 weeks is 24bp.

 

The red line is the most current rate while the green line is from one week ago.

Short-term rates increased MORE relative to longer-term rates, as such the inverted yield curve is less steep. For terms 5+ years, the Yield Curve is positive.


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