Work

The Treasury Tantrum of 2023

Year: 2024

Type: article

Abstract: In the second half of last year, the 10-year Treasury yield skyrocketed from below 4 percent to above 5 percent, and then back down to 3.9 percent (Figure 1). On the way up, market commentary cited several key drivers for the rapid increase, including strong employment and inflation data, unexpectedly high Treasury issuance, and FOMC communications indicating that rates may need to be higher for longer.

Source: FEDS Notes

DOI: 10.17016/2380-7172.3500

Authors: Anthony M. Diercks, Dev Asnani

Institutions: Federal Reserve, Federal Reserve Board of Governors

Language: English

Topic: Monetary Policy and Economic Impact

Subfield: General Economics, Econometrics and Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

Open Access status: hybrid

OpenAlex ID: W4402438168

FWCI: 1.355

Cites: 15

Cited by: 2

Related to: 10