Over the past month, interest rates on Treasury securities have shifted higher across the board. This has moved the yield curve upward, although it remains well below its position at the start of the year. The curve has also become somewhat smoother, with the 3-year, 3-month spread increasing from –11 to +1 basis points, and the 10-year, 3-month spread decreasing from 42 to 25 basis points.
Suggested citation: “Interest Rates,” Federal Reserve Bank of Cleveland, Economic Trends, no. 98-12, pp. 06-07, 12.01.1998.