2812, 2015

US Treasury Yield Curve, 12-27-15

By |December 28th, 2015|0 Comments

The Christmas shortened week was filled with a few sluggish surprises and a slight increase in bond yields. The 2 year UST note traded back above 1% while the longer end of the curve dropped back below 3%, thus a modest flattening of the yield curve. The final revision to 3rd Qtr GDP was as […]

2112, 2015

US Treasury Yield, 12-20-2015

By |December 21st, 2015|0 Comments

The Fed boosted its overnight rate by 25 bps last week, and now what? The rate the Fed pays on both required and excess reserves ($4 trillion) has increased from .25% to .50%, which is actually quite small relative to their annual revenues. Additionally, they voted to expand the capacity of their reverse repo facility […]

1412, 2015

US Treasury Yield Curve, Dec. 14, 2015

By |December 14th, 2015|0 Comments

Oil plunges below $36, stocks tank, bonds improve, and the Fed is ready. What a way to finish the week! Last week’s economic data was mixed but there was nothing reported that would cause the Fed to reverse course. On the bright side: retail sales were a bit better than expected, PPI rose at its […]

712, 2015

US Treasury Yield Curve, Dec. 6

By |December 7th, 2015|0 Comments

A 25 bps rate hike appears like a done deal for December 16th and the markets are already suggesting another 25 bps next March. The November jobs report was above expectations by 10,000 as nonfarm payrolls grew 211,000. (The participation rate was up slightly from 62.4% to 62.5%.) The previous 2 months were revised upward […]