Upcoming Key Economic Data Release:
Next new job release is 3.8.24. Most recent past: 2.1.24 New jobs data for January released 353,000 A robust amount. In response to the jobs numbers, 10-year Treasuries rose 28bp over inflation concerns and will the Fed make their future rate cuts
Next inflation release is 3.12.24. Most recent past: 2.13.24 CPI decreased from 3.3% to 3.1%
No Fed meeting in February (March 20 is next meeting) Most recent past 1.31.24 the Fed keep rates unchanged however they clearly indicated that up to 3 rate cuts were a distinct possibility later in 2024.
For the past week, 10-year Treasury rates were down 16bp. The net change in 2 weeks is down 24bp.
The red line is the most current rates while the green line is from one week ago. Longer-term rates decreased LESS relative to shorter-term rates, as such the inverted yield curve is less steep.
For terms 5+ years, the Yield Curve is positive.
