Right here’s the cumulative change since 6/3/2024:
Determine 1: Change since June 1, 2024 in 10yr-2yr time period unfold (daring black), contribution to alter from 10 12 months yield (blue bars), from 2 12 months yield (tan), all in proportion factors. Supply: Treasury by way of FRED, and creator’s calculations.
What does this imply? Who is aware of (as recounted on this FT article). Unsure an excessive amount of could be inferred, as I conclude from earlier cases of bear- and bull- steepening.
Right here’s one other depiction of what’s occurred to spreads, alongside all the spectrum.
Supply: US Treasury.
By the best way, right here’s one other FT article on the size of the inversion…
