US yields are mixed/little changed
The US stocks are opening little changed.
- S&P is down -1.81 points at 2860
- Nasdaq is down -1.5 points at 7887
- Dow is down -54 points at 25682
The US debt market is showing little change, but the yield curve is continuing to flatten:
- 2 year 2.6037%, up 1.2 bps
- 5 year 2.707%, up 0.5 bps
- 10 year 2.815%, down -0.36 bps
- 30 year 2.975%, -0.9 bps
The 2-10 spread is down to about 21.1 bps now. Feds George said today that the Fed does look at the yield curve. Fed's Bostic said that he would not tighten and force a negative yield curve. The Fed minutes talked about stopping the wording that the Fed policy is accomodative (a flatter yield curve says that). The flatter the yield curve gets, the less likely the Fed will want to push too much with more rate hikes (or at least there will be a debate).
