Fast forward 16 years, and the same phenomenon has recurred. The yield on the 2-year U.S. Treasury note increased from 1.27% at the end of March 2017 to 2.81% at the end of September 2018. That move was accompanied by six FOMC rate hikes, bringing the Fed Funds rate from 1.25% to 2.75%.
Fast forward 16 years, and the same phenomenon has recurred. The yield on the 2-year U.S. Treasury note increased from 1.27% at the end of March 2017 to 2.81% at the end of September 2018. That move was accompanied by six FOMC rate hikes, bringing the Fed Funds rate from 1.25% to 2.75%.
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