Today at 2:30 p.m. New York time the yield on a 10-year Treasury was up 10 basis points to 3.55%. Yesterday the yield had dropped to 3.50%.
The yield on the 2-year Treasury, very sensitive to sentiment on Fed interest rate policy, crossed back above 4% to 4.15%. Yesterday the yield had dipped to 3.99%.
The yield on the 12-month Treasury today, March 16, was 4.42%, up from 3.92% yesterday.
6-month yield? 4.88% today from 4.42% yesterday.
3-month? 4.65% from 4.53%.
Another day like this and we’ll see some short-term yields, 6-month perhaps–above 5% again.
Or maybe the bond market is just celebrating St. Patrick’s Day a day early?