Ten-Year Swap Spreads Fall After Rate Cuts
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According to a report from Bloomberg, the spread between the 10-year interest-rate swaps and Treasury yields fell to the lowest level since the credit market started freezing up last year after the coordinated interest rate cut by six countries, including the U.S. today.
The 10-year spread narrowed to as low as 44.94 basis points, the smallest since February 6, 2007.
Two-year swap spread, which is a gauge of credit concern and near-term expectations for Libor, was down by one basis point, but is still elevated at 133 basis points. The Two-year swap spread hit a record of 167.25 basis points on October 2nd.
The 10-year spread narrowed to as low as 44.94 basis points, the smallest since February 6, 2007.
Two-year swap spread, which is a gauge of credit concern and near-term expectations for Libor, was down by one basis point, but is still elevated at 133 basis points. The Two-year swap spread hit a record of 167.25 basis points on October 2nd.
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