Daily changes in the US 10 Year Treasury rates are the blue bars while the red line is the 14-day cumulative change in rates: UP 18bp. The 13bp DECREASE on Feb 1 was due to Fed Chair Powell’s positive comments regarding inflation following the FOMC 2.1.23 meeting. The 13bp INCREASE on 2.3.23 is the market’s reaction to the net new jobs created in Jan in excess of 500k 30bp is beyond rare.
The red line is the most current rate while the green line is from one week ago.
Longer-term rates were UP ~25bp for the week. The yield curve decreased but continues to be inverted.
