Fed Raises Target Rate To 2%, 10Y-2Y Treasury Slope Flattens To Below 40 BPS…

By Anthony B. Sanders

…Flattest Since 2007

As expected, The Federal Reserve raised their target rate (upper bound) to 2%.

fed061318.png

However, the interest on excess reserves is now 1.95% (not 1.75% according to Bloomberg).

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At the same time, the US Treasury 10Y-2Y slope flattened to below 40 basis points, the lowest since 2007.

yc10240.png

Now for the Fed Dots Plot.

dotsplot061318.png

dots.jpg

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