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2023 Mid-Year Market Outlook

Financial Decoder

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The Trend in the Mid-Year Market Outlook

For bonds with maturities of two or three years or more, yields are about unchanged in the Treasury market. Short-term rates are generally up because just they directly reflect the Fed's rate hikes. intermediate long-term rates reflect the expectation the market has for where rates are going next. It really has been a somewhat unusual tightening cycle in that way.

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