| Friday, June 24, 2022 | ||||||||
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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 |
| 06/16/22 | 1.19 | 1.59 | 2.24 | 2.88 | 3.14 | 3.33 | 3.35 | 3.36 | 3.28 | 3.59 | 3.35 |
| 06/17/22 | 1.15 | 1.63 | 2.25 | 2.86 | 3.17 | 3.35 | 3.34 | 3.34 | 3.25 | 3.55 | 3.30 |
| 06/21/22 | 1.08 | 1.70 | 2.46 | 2.92 | 3.21 | 3.35 | 3.38 | 3.39 | 3.31 | 3.63 | 3.39 |
| 06/22/22 | .098 | 1.61 | 2.40 | 2.79 | 3.06 | 3.20 | 3.22 | 3.24 | 3.16 | 3.49 | 3.25 |
| 06/23/22 | 1.12 | 1.65 | 2.44 | 2.78 | 3.01 | 3.12 | 3.14 | 3.16 | 3.09 | 3.45 | 3.21 |
Source: U.S. Department of the Treasury, as of 6/23/2022
A Traders Perspective
Last Wednesday, the Fed raised the Fed Funds target by 75 basis points for the first time since 1994 in hopes of helping tame inflation. The Fed also released an updated dot plot, shown below, that reflects a move in the median to 3.375 from 1.875 for 2022. This week Jay Powell testified before Congress and remained consistent with his hawkish sentiment. During the press conference, Powell was asked if he agreed if interest rates go too high too fast it could drive the economy into a recession. Powell responded that it was certainly a possibility, but not the intended outcome. This comment, as well as the last minute shift from 50 basis points to 75, could mean the Fed is more determined to do what it takes to fight inflation even with the increased probability of a recession on the horizon.
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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