For the past 2 weeks, 10-year Treasury rates were up 8bp Past week: up 18bp. The next Fed meeting is 9.20.23 Twice a year the Fed meetings are 6 weeks apart, in this coming summer break it is 8 weeks. Over the recent past, the market has tended to drift upward between longer breaks in Fed meetings.
There will be 1 CPI release before the next Fed meeting.
The red line is the most current rates while the green line is from one week ago.
Longer-term rates increased this past week. The 10-year was up 18bp. This made the inverted yield curve less steep. One month rates were unchanged.