After the Fed released minutes of its last meeting, the bond market signaled it fears the Fed will not be aggressive enough with its rate cutting.
but did not hold on a closing basis. Other parts of the yield curve have inverted and remain that way, but the 2-year to 10-year spread is the most widely watched.
"Looks like the Fed is going to be stubborn, and the yield curve is starting to price that in," noted Andy Brenner of National Alliance.called its first rate cut in more than a decade a "recalibration," emphasizing it is not on a "pre-set course" for future cuts.
The U.S. 10-year was at 2.07% ahead of the Fed's last meeting, and was at 1.58% Wednesday afternoon. The 2-year was at about the same rate, but was fluctuating, having hit a high of 1.58%.
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