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UST 10-Yr-2-Yr Yield Spread Inverts Again; All Eyes on FOMC

In one of the quietest trading periods of the market year, while many investors and traders are lolling on the beach or hiking in the mountains, the U.S. Treasury 10-year-2-year yield spread inverted again. Consequently, all eyes are on the Sept. 18 Federal Open Market Committee meeting. As of Friday, the 10-year yield was 1.50% and the 2-year at 1.50%.

Meanwhile, the economic data keeps arriving that again points up the conundrum for the Federal Reserve Board and its chairman, Jerome Powell. According to the Commerce Dept., the economy is growing with support from the U.S. consumer. It revised down slightly its estimate of overall second-quarter economic growth to an annual rate of 2.0% in the second quarter, compared with the previous estimate of a 2.1% rise.

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