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Rate Brief

Updated: 2014-10-24, 16:00:18 ET

The Interest Rate Outlook

  • Treasury yields saw an historic drop as worries of a slowdown in the global economy coincided with a spike in European peripheral yields and worries of an Ebola outbreak in the U.S.
  • The strong bid pushed long dated yields lower by ~34bps making for the largest drop in long dated yields since March 18, 2009, when the Federal Reserve announced its $1 trln asset purchase program. 
  • Sellers regained control over the next couple of sessions with those yields erasing all of their declines. 
  • The Fed still remains on track to taper its asset purchase program to zero at its October 28/29 policy meeting.