Income Report Card

Category: Quant Insight

The 10-year Treasury rose to 2.33%, its highest point in two months. This has also been a fairly sharp reversal off of the year low of 2.05% at the beginning of September. It’s hard to identify the core driver of changes in yield, but we think the drop may have been an over reaction to Fischer’s surprise retirement. At any rate, the current yield is back within a range that had been in place since April. A move to about 2.40% might push the market towards the macro theme of rising rates and inflation.

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