Right here’s the cumulative change since 6/3/2024:
Determine 1: Change since June 1, 2024 in 10yr-2yr time period unfold (daring black), contribution to alter from 10 yr yield (blue bars), from 2 yr yield (tan), all in proportion factors. Supply: Treasury by way of FRED, and writer’s calculations.
What does this imply? Who is aware of (as recounted on this FT article). Undecided an excessive amount of may be inferred, as I conclude from taking a look at earlier situations of bear- and bull- steepening.
Right here’s one other depiction of what’s occurred to spreads, alongside your complete spectrum.
Supply: US Treasury.
By the best way, right here’s one other FT article on the size of the inversion…
Â
