The yield curve has shifted downward at all maturities since last month. It retains its humped shape, with 2-year yields remaining highest. Two often-watched spreads, the 3-year, 3-month and the 10-year, 3-month, stand at 43 and 15 basis points, respectively. The supply of Treasury securities continues to be a concern, particularly at longer maturities, keeping those rates low.
Suggested citation: "Interest Rates," Federal Reserve Bank of Cleveland, Economic Trends, no. 00-07, pp. 06, 07.01.2000.