5. US 1-10 Treasury Yield Spread — Through October 12, 2018
4 US 1-10 Treasury Yield Spread During 2018 3 12 4 2 1.0 - 0.8 = 1 = 0.51 aaa : 0.6 8 0 0.51 3. 04 | ad wo 1 0.2 5 -2 0.0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct 3 4
193 190 1%7 1974 191 188 195 202 209 2016
Source: Investment Strategy Group, Bloomberg.
6. “Near-Term Forward Spread”* — Through October 12, 2018
“Near-Term Forward Spread” During 2018
1.25 2 1.0 5 S os) 0.8 | 0.78 os 1 g 0.78 a 2 0.6 - fou wn 0.4 - 0 0.2 - 0.0 -1 Jan Feb Mar Apr May Jun Jul Aug Sep Oct -2
1996 1999 2002 2005 2008 2011 2014 2017
*“Near-Term Forward Spread’ is the implied 3-month forward yield 18-months from now. Source: Investment Strategy Group, Bloomberg.
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