Commentary: 10 Year at the beginning of the quarter was 4.05% and it is now 4.59%. As rates rise, values will decline. Firms that mark-to-market their portfolio, this is not going to be welcomed returns. For firms with historical valued assets will be facing issues if they need to liquidate (e.g., like the challenges leading to Silicon Valley Bank's failure)
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For the past 2 weeks, 10 Year Treasury rates were up 30bp Past week: up 10bp.
Fed 9.20.23 meeting ----no rate change, reaction to potential Fed future rate increases.

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The red line is the most current rates while the green line is from one week ago.
Longer term rates rose relative to shorter term rates, as such the inverted yield curve is less steep. One month rates were up slightly.

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