The yield curve has flattened slightly in the past month, with short rates rising and long rates unchanged. The rate on the 3-month Treasury bulls moved up seven basis points to 5.3% but 30-year bonds showed no change. The closely watched 3-year, 3-month spread stands at 114 basis points, well above the historical average of 80, and the popular 10-year, 3-month spread stands at 155, also above its mean of 120.
Suggested citation: “Interest Rates,” Federal Reserve Bank of Cleveland, Economic Trends, no. 96-08, pp. 05, 08.01.1996.