
The Fed’s position, in one picture
The Fed Funds rate has caught up to the 3 month T-bill yield, but the 2 year yield lurks above You can see that the Fed closed the gap as demanded by the 3 month T-bill today (blue extension is my artwork). You can also see that the 2 year Treasury yield is higher than the last high in 2018, quite possibly ending the bond … Continue reading The Fed’s position, in one picture