Commentary:
Substantial increase in Treasuries this past week due to CPI increase announced on April 10.
Upcoming Key Economic Data Release:
Next new job release is 5.3.24. Increased from 275,000 to 303,000 on 4.5.24
Next inflation release is 5.15.24. Annual increased from 3.2% to 3.5% on 4.10.24
Next Fed meeting is 5.2.24 It is anticipated Fed will lower rates at 6.12.24 meeting
For the past week, 10 Year Treasury rates were up 25bp. Net change in 2 weeks is up 36bp.
Red line is most current rates while green line is one week ago. Longer-term rates increased more relative to shorter-term rates, as such the inverted yield curve is less steep.
For terms 5+ years, the Yield Curve is BARELY positive.
