The yield curve has not moved much since last month. Both the 3-month and 30-year yields remain unchanged at 4.51% and 5.58%, respectively. Most other rates have only inched up, slightly widening the 3-year, 3-month spread from 56 to 59 basis points, and the 10-year, 3-month spread from 69 to 75 basis points. The steady levels suggest that the market has not materially shifted its perceptions of the FOMC’s intentions.
Suggested citation: "Interest Rates," Federal Reserve Bank of Cleveland, Economic Trends, no. 99-05, pp. 06, 05.01.1999.