Treasury bills and notes had another week of rising rates. I was doing some analysis for myself and was struck by the magnitude of what is going on. So, I thought I would formalize and share here.
T-bills of all terms hit new highs during the week, except for the 1-Month. Additionally, the 2-Year note hit a new high while the 3-Year note is closing in on its high. Here is a quick summary as of close of the market on Friday, February 24.
T-Bills - 6 out of 7 terms hit new highs during the week; the 1-Month missed, but came close
1-Month 4.68%, within 2 bps of its 4.70% high set on 1/24/2023
2-Month 4.83%, a new high, finished at this level 3 times this week
3-Month 4.86%, a new high, finished at this level twice this week
4-Month 5.02%, a new high
6-Month 5.06%, within 2 bps of its 5.08% high set 2 days ago
1-Year 5.05%, within 2 bps of its 5.07% high set twice this week
T-Notes - 1 high and 4 big surges since February 1st
2-Year 4.78%, a new high surpassing the 4.72% high set on 11/7/2022
3-Year 4.52%, a whopping gain of 77 bps since 2/1, only 14 bps away from the 4.66% high set on 10/20/2022
5-Year 4.19%, up 71 bps since 2/1
7-Year 4.10%, up 67 bps since 2/1
10-Year 3.95%, up 56 bps since 2/1
Daily Treasury Par Yield Curve Rates
