The London Interbank Offered Rate (LIBOR) has now reached its highest level since the end of The Great Recession in June 2009. LIBOR is important since many contract are indexed to it.
I guess we can say the same thing about The Fed Funds Target Rate (UB) — it too is at its highest rate since June 2009 with only two rate increases.
How has the US Treasury yield curve shifted between June 30, 2009 and today? The 1 year Treasury yield is 44 basis points higher today while the 10 year Treasury yield is around 100 basis points lower. Essentially, the Treasury yield curve has been twisted since the end of The Great Recession.
This is a character from the PlayStation game Twisted Metal, NOT Fed Chair Janet Yellen. Yellen’s hair is white and shorter.