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Conditions have rapidly deteriorated. Bad steepening has hit both ends. Rate cuts now close.

Eurodollar University

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The Treasury Curve: Bad Steepening Inversions

Short term rates or short term rates up here, long term rates are down here as the curve begins to get into the crisis period. What happens is you have steepening in the long end where it's still inverted up here in the short end, but then starts to steepen out in the longEnd of the Treasury Curve. The two year treasury is at 376 and I think it's still falling. So that's bad steepening on both sides. We see the same thing in Germany too.

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