Fed: Why Have Far-Forward Nominal Treasury Rates Increased So Much in the Past Few Years? Old Risks Reemerge in an Era of Fed Credibility
February 13, 2026
February 13, 2026
WASHINGTON, Feb. 13 -- The Federal Reserve issued the following Fed Notes article:
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Why have far-forward nominal Treasury rates increased so much in the past few years? Old risks reemerge in an era of Fed credibility
Daniel Covitz and Eric Engstrom
Increases in far-forward nominal interest rates in recent years have been remarkable. For example, the increase in the 9- to 10-year forward Treasury rate over the past five years is the largest . . .
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Why have far-forward nominal Treasury rates increased so much in the past few years? Old risks reemerge in an era of Fed credibility
Daniel Covitz and Eric Engstrom
Increases in far-forward nominal interest rates in recent years have been remarkable. For example, the increase in the 9- to 10-year forward Treasury rate over the past five years is the largest . . .