Summary: On 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.
Upcoming Key Economic Data Release
2.1.24 New jobs data for January released 353,000 A robust amount. Next release 3.8.24.
2.13.24 next CPI. Likely to cause a decrease from 3.3% to 3.1%
No Fed meeting in February (March 20 is the next meeting, NO meeting in April)
For the past 2 weeks, 10-year Treasury rates were down 27bp. Past week down 27bp.
The red line is the most current rate while the green line is from one week ago.
Longer-term rates decreased MORE relative to shorter-term rates, as such the inverted yield curve is steeper. For terms 5+ years, the Yield Curve is positive.
