Treasury Yield Curve Steepens, as Long-Term Yields Coddle Up to 5% while Short-Term Yields Stay Put, Not Seeing Any Rate Cuts. Mortgage Rates Rise to 7.24%

Since the Fed’s 100 basis points in rate cuts, the 10-year Treasury yield has risen by 114 basis points, including by 9 basis points on Friday, to 4.77%, the highest since November 2023, upon news of a continued solid labor market in an economy that is growing substantially faster than the 15-year average growth rate...