10Y-2Y Yield Spread in 2011
10Y-2Y Yield Spread opened 2011 at 275 bps and closed at 164 bps, a -40.36% move for the year. The high of 291 bps was reached on February 4, and the low of 152 bps on September 22.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 275 bps | 284 bps | 284 bps | 273 bps | +3.27% |
| Feb | 287 bps | 273 bps | 291 bps | 270 bps | -4.88% |
| Mar | 275 bps | 267 bps | 283 bps | 264 bps | -2.91% |
| Apr | 266 bps | 271 bps | 277 bps | 266 bps | +1.88% |
| May | 270 bps | 260 bps | 270 bps | 256 bps | -3.70% |
| Jun | 252 bps | 273 bps | 273 bps | 252 bps | +8.33% |
| Jul | 272 bps | 246 bps | 272 bps | 246 bps | -9.56% |
| Aug | 239 bps | 203 bps | 239 bps | 187 bps | -15.06% |
| Sep | 196 bps | 167 bps | 196 bps | 152 bps | -14.80% |
| Oct | 156 bps | 192 bps | 211 bps | 156 bps | +23.08% |
| Nov | 178 bps | 183 bps | 185 bps | 163 bps | +2.81% |
| Dec | 184 bps | 164 bps | 185 bps | 158 bps | -10.87% |
Events During 2011
S&P stripped the United States of its AAA credit rating on August 5, 2011, the first time in history. Markets whipsawed as the debt ceiling fight showed political risk could reprice government creditworthiness.
Greece's debt revelation in October 2009 triggered a multi-year eurozone crisis that threatened the euro's survival. Greece, Ireland, Portugal, Spain, and Italy required emergency support. Mario Draghi's "whatever it takes" in 2012 ended the acute phase.
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