The yield curve has flattened since last month, with all rates falling except those on short-term bills of three and six months. The 3-year, 3-month spread dropped to 95 basis points and the 10-year, 3-month spread fell to 141 basis points. Despite this decline, the yield curve remains steeper and straighter than it was at the beginning of the year.
Suggested citation: “Interest Rates,” Federal Reserve Bank of Cleveland, Economic Trends, no. 96-11, pp. 05, 11.01.1996.