The yield curve has shifted only slightly in the last month. At the short end, the 3-month rate has moved down just 14 basis points, while at the long end, the 30-year rate has increased only 10 basis points. Overall rates and the yield curve slope (or steepness) remain below levels seen at this time last year. The often-watched 3-year, 3-month spread stands at 64 basis points, while the 10-year, 3-month spread is at 70 basis points, below both their historical averages and last year’s 130 and 155 basis-point spreads.
Suggested citation: “Interest Rates,” Federal Reserve Bank of Cleveland, Economic Trends, no. 98-05, pp. 06, 05.01.1998.