Wednesday, May 09, 2007
So, the gist of today's meeting was business as usual, with a firm grip on the reigns of inflation. As a result U.S. Treasuries took a slide into the area of April lows. Yields on the 2-year note rose 0.06% (@4.73%). Meanwhile, the ten-year note increased 3 basis points to 4.67%. You know what that means?!? You got it...Inverted Yield Curve time people! "The committee's predominant policy concern remains the risk that inflation will fail to moderate as expected,'' the Federal Open Market Committee said in a statement after meeting in Washington."