US Treasury Market
Date	1 mo	3 mo	6 mo	1 yr	2 yr	3 yr	5 yr	7 yr	10 yr	20 yr	30 yr
11/15/19	1.59	1.57	1.59	1.54	1.61	1.61	1.65	1.75	1.84	2.16	2.31
11/18/19	1.59	1.57	1.58	1.54	1.60	1.59	1.63	1.73	1.81	2.14	2.30
11/19/19	1.58	1.57	1.58	1.54	1.60	1.59	1.63	1.71	1.79	2.11	2.26
11/20/19	1.57	1.57	1.58	1.54	1.56	1.55	1.58	1.66	1.73	2.05	2.20
11/21/19	1.57	1.58	1.59	1.55	1.60	1.59	1.62	1.71	1.77	2.09	2.24

                                                                                                                                                   Source: U.S. Department of the Treasury, as of 11/21/2019

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                                                                                      Ready for Year End?

Only 24 business days left in this decade! This sounds so dramatic, but does bring up the question of are you ready for year end?  Going into to the prior quarter end (3Q2019), the market showed signs of stress in the repo market causing liquidity concerns until the Fed stepped in to calm matters.  The graph below illustrates the 2-year swap curve dipping in to negative territory in late September 2019. This event happened, yet again, in the last couple days. This now begs the question will there be another disruption in the market at year end? Dealers are trimming their balance sheets already and if funding goes awry this could happen even more so than normal.   Now is the right time to take a look at your portfolio and decide if you want to obtain bids on any of your banks holdings or even issue CDs to add to your liquidity. 
    
Let us know how we can help.

 

Source: Bloomberg, LLC


This information is intended for institutional investors only. The material provided in this document/presentation is for informational purposes only and is intended solely for private use. Past performance is not indicative of future results. This material is not intended as an offer or solicitation for the purchase or sale of any financial instruments.

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