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U.S. Yields Near 18-Month High as Traders Await Fed (10Y-2Y T-Curve Highest In A Year)

This is a syndicated repost courtesy of Confounded Interest. To view original, click here. Reposted with permission.

It was literally the most amazing week for US Treasuries. Except that 30 year mortgage rates will likely rise on Monday.

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(Bloomberg) Treasuries declined, with benchmark yields approaching 2015/2016 highs, as stronger-than-forecast U.S. consumer sentiment bolstered bets that the Federal Reserve will raise interest rates next week.

The U.S. 10-year yield rose five basis points to 2.46 percent at 1:12 p.m. in New York, nearing the 2.49 percent level reached last week, the highest since June 2015. The benchmark 30-year yield set a 17-month high at 3.17 percent. The Treasury will hold auctions of both maturities next week ahead of the Fed’s decision on Dec. 14.


And the 10 year – 2 year US Treasury yield curve slope is the highest in one year.


On the other hand, the 30 year mortgage rate has been rising.


As Chris Traeger would say … half amazing, half terrific!


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