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The opportunity to get that 5% yielding 2-year is now deep in the rearview mirror
Less than 48 hours ago, you could get 5% for buying a 2-year Treasury note for 2 years. That was an invitation for many to step away from the volatility of financial markets for a couple years and clip coupons. It was also a reflection of the idea that you could get around the same amount in short-term t-bills because the Fed was poised to hike to 5.50-5.75%.
Now the market is pricing the Fed's terminal top at 5.26% and 2-year yields are down to 2.63% in a 26 bps drop today.
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Posted: Mar 10 2023, 17:22
Author Name: forexlive
Views: 102812
