The yield curve has moved only slightly since last month, the biggest shift being a decrease of 11 basis points in the 6-month yield. Spreads are mixed, with the 3-year, 3-month spread falling from 46 to 41 basis points, and the 10-year, 3-month spread increasing from 40 to 43 basis points. Both remain well below their historical averages of 80 and 120 basis points.
Suggested citation: “Interest Rates,” Federal Reserve Bank of Cleveland, Economic Trends, no. 98-08, pp. 05, 08.01.1998.