It was the highest level recorded since August, largely driven by positive shifts in the expected path of inflation. All this run of positive data has markets pulling back on their enthusiastic expectation that the Fed will be cutting rates in 2024. It will be interesting to see whether the industry responds with generally lower savings rate offers, or higher lending and deposit rates. The UST 10yr yield is on the rise again, up +12 bps from yesterday at 4.23% on the jobs data. That all means our TWI-5 starts today just on 70.2 and -40 bps lower from this time yesterday, -50 bps lower than a week ago.

Source: Stuff December 09, 2023 07:28 UTC