For the past 2 weeks, 10 Year Treasury rates were down 21bp Past week: down 14bp.
The next Fed meeting is 9.20.23 Twice a year the Fed meetings are 6 weeks apart, in this coming summer break it is 8 weeks. Over the recent past, the market has tended to drift upward between longer breaks in Fed meetings. There will be 1 CPI and 1 job announcement before the next Fed meeting.
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The red line is the most current rate while the green line is one week ago.
Longer-term rates decreased this past week. 10 year is down 14bp. This made the inverted yield curve more steep. One month rates are down 3bp.
