Thursday, May 10, 2018
MANAGING DIRECTOR: Scott Carrithers   PORTFOLIO SALES AND SERVICE: Steve Panknin • George Morris • Jeff Goble • Chris Thompson • Sean Doherty Kevin Doyle • Lonnie Harris •  Mark Tranckino • Robert Schuyler • Tom Toburen • Josh Kiefer  Nicole Burczyk • Kelley Frye • Natalie Regan • Aaron Stoffer • Chuck Honeywell • Gus Koppen

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
5/03/18	1.68	1.84	2.02	2.24	2.49	2.62	2.78	2.90	2.94	3.02	3.12
5/04/18	1.67	1.84	2.03	2.24	2.51	2.63	2.78	2.90	2.95	3.02	3.12
5/07/18	1.69	1.86	2.05	2.25	2.49	2.64	2.78	2.90	2.95	3.02	3.12
5/08/18	1.69	1.87	2.05	2.26	2.51	2.66	2.81	2.93	2.97	3.04	3.13
5/09/18	1.68	1.88	2.05	2.27	2.54	2.68	2.84	2.96	3.00	3.07	3.16

                                                                                      Source: U.S. Department of the Treasury, as of 05/09/18  

                                              

                  

                                               Stability of  Rates “Income” On the Longer End

 

Last thing to consider regarding the U.S. yield curves over the last five years:  Notice the increased stability of yield levels over time as you go out on the curve.  The Fed controls short term rates mainly, not longer term rates.  The market “controls” longer rates when it knows or thinks it knows what the Fed has on its mind, regarding inflation expectations and economy.
 
Thus if you do the math, when people say, “Why buy now, rates are going up?” it is often better to just go far enough out on the curve to increase current income and total income outlook.
  

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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