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Treasury Rates Update: May 2nd, 2024

Commentary:  


Moderate decrease in Treasuries following the Fed's FOMC 5.1.24 meeting at which they announced they would slow their US Treasury portfolio runoff.

 

Upcoming Key Economic Data Release:  


The next Fed meeting is 6.12.24   It is anticipated the Fed may or may  not lower rates at 6.12.24 meeting

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The next new job release is 5.3.24.  (Increased from 275,000 to 303,000 on 4.5.24  unemployment 3.8%)

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The next inflation release is 5.15.24.  (Annual increased from 3.2% to 3.5% on 4.10.24)


 

For the past week, 10-year Treasury rates were down 126bp. The net change in 2 weeks is up 6bp.

 

The red line is the most current rates 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 more steep.


For terms 5+ years, the Yield Curve is BARELY positive.


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