Historical Year Data · 2022
10Y-2Y Yield Spread in 2022
10Y-2Y Yield Spread opened 2022 at 85 bps and closed at -53 bps, a -162.35% move for the year. The high of 89 bps was reached on January 4, and the low of -84 bps on December 7.
Open
85 bps
2022-01
Close
-53 bps
249 data points
High
89 bps
Jan 4
Low
-84 bps
Dec 7
Full Year Change
-162.35%
2021 Change
-3.66%
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 85 bps | 61 bps | 89 bps | 61 bps | -28.24% |
| Feb | 63 bps | 39 bps | 63 bps | 38 bps | -38.10% |
| Mar | 41 bps | 4 bps | 41 bps | 4 bps | -90.24% |
| Apr | -5 bps | 19 bps | 39 bps | -5 bps | +480.00% |
| May | 26 bps | 32 bps | 44 bps | 18 bps | +23.08% |
| Jun | 28 bps | 6 bps | 31 bps | 3 bps | -78.57% |
| Jul | 4 bps | -22 bps | 4 bps | -22 bps | -650.00% |
| Aug | -30 bps | -30 bps | -24 bps | -48 bps | +0.00% |
| Sep | -25 bps | -39 bps | -17 bps | -51 bps | -56.00% |
| Oct | -45 bps | -41 bps | -25 bps | -50 bps | +8.89% |
| Nov | -47 bps | -70 bps | -47 bps | -77 bps | -48.94% |
| Dec | -72 bps | -53 bps | -43 bps | -84 bps | +26.39% |
Events During 2022
2022 Fed Rate Hiking Cycle
Stagflation
March–December 2022
The Fed raised rates 425bps in 2022, the fastest hiking cycle since the Volcker era. The 60/40 portfolio posted its worst year since 1937.
2022 UK Mini-Budget & Gilt Crisis
Stagflation
September 23 – October 14, 2022
UK Prime Minister Liz Truss's September 23, 2022 mini-budget triggered a collapse in sterling and gilts. LDI pension strategies faced forced liquidation. The Bank of England intervened to prevent financial instability.
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