| Friday, March 15, 2024 |
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MANAGING DIRECTOR: |
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US Treasury Market |
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| Date | 1 mo | 3 mo | 6 mo | 1 yr | 2 yr | 3 yr | 5 yr | 7 yr | 10 yr | 20 yr | 30 yr |
| 03/08/24 | 5.37 | 5.38 | 5.30 | 4.93 | 4.47 | 4.24 | 4.04 | 4.06 | 4.07 | 4.35 | 4.25 |
| 03/11/24 | 5.37 | 5.40 | 5.32 | 4.96 | 4.53 | 4.30 | 4.08 | 4.09 | 4.09 | 4.36 | 4.26 |
| 03/12/24 | 5.37 | 5.39 | 5.31 | 5.01 | 4.58 | 4.33 | 4.15 | 4.16 | 4.15 | 4.41 | 4.31 |
| 03/13/24 | 5.37 | 5.40 | 5.32 | 5.03 | 4.63 | 4.38 | 4.19 | 4.20 | 4.19 | 4.44 | 4.34 |
| 03/14/24 | 5.37 | 5.40 | 5.33 | 5.06 | 4.68 | 4.46 | 4.29 | 4.30 | 4.29 | 4.55 | 4.44 |
The data in the table above is static as of the time it was pulled, so rates may have changed. Treat all data in this table and PMR as indications only and availability is always subject to change. This information was pulled manually from sources we believe to be reliable. New source, as of 12/12/2022, Bloomberg, L.L.P. As of: close of business 3/14/2024.
Is This Thing On?
The Fed’s anticipated March meeting is next week. Although there is no expectation of a rate change, there will be an update to their Summary of Economic Projections, also known as the dot plot. This information will likely be closely watched to determine if the expectation is still 3 cuts for this year and what next year looks like. Higher CPI and PPI numbers are causing the market to wonder if inflation is under control enough to start cutting rates any time soon. As of now, the market is pricing in a 65% chance of a cut at the June meeting, down from 100% earlier this month causing the treasury market to sell off. Specifically, the 5-year treasury is now a 4.29% up 21 basis points since last week. The exact timing of any movement by the Fed remains in question. We still believe indicators point for lower rates this year.
When the market gives us these pops in yield, it offers a great time to lock in 5% coupons with added call protection. Please call to discuss these or any options.
- 5Y 2y Quarterly FHLB 5.00% 3-13-29/26 @ 100-00
- 6Y 2Y Annual FHLB 5.00% 3-13-30/26 @ 100-00
- 10Y 2Y Anytime FHLB 5.25% 3-20-34/26 @ 100-00
Indications only; Subject to change and availability without notice
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.
•Not FDIC Insured •No Bank Guarantee •May Lose Value