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Treasury Rates Update: February 8th, 2024

Updated: Feb 23

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.  In response to the jobs numbers, 10-year Treasuries rose 28bp over inflation concerns and will the Fed make their future rate cuts.

  • 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) 


For the past week, 10-year Treasury rates were up 28bp. This offsets the week before that in which rates were down 27bp. The net change in 2 weeks is 1bp.


The red line is the most current rate while the green line is 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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