Yield Curves August 2017

The above shows the ever closing gap on the Yield Curve. The short term rates have been growing rapidly but long term have not moved. One suspects a built up delay in the long term but the short term action is the Fed rolling over its holdings and the buyers demanding more return. This has yet to be seen on the long term because there is much less of it in proportion to turnover.

The above is the spread. It is lower than any time since we started tracking after the Banking Crash.

The above is a similar demonstration but it shows the explosion of the short term rates. One expects long term explosion in the coming year.