Board of Governors of the Federal Reserve System

lower, and unsecured short-term dollar funding markets were fairly stable...Treasury yield has remained wide since the end of 2008 in part because

yields. • Subsequent outcome-based FG did not result in material shift...lower interest rate volatility, making changes to average duration less

or any other governmental agency) that incorporate, include, or relate...or any other governmental agency); or (ii) referred to in any conference

yield curve, and liquidity is abundant. Amid historically low corporate...remain tight, with lower lending activity and signs of deteriorating loan

stable over the past year. Other indicators of labor market conditions...lowering the “breakeven” rate of job creation needed to hold the unemployment

stable to modestly higher. Growth in the energy sector eased slightly....remained modest since the previous report. Several Districts noted increased

remained stable (figure 2). Accessible Version of Figure 1 Accessible ...yields on corporate bonds generally moved lower. Broad equity prices,

Treasury yields, mortgage rates, and yields on corporate bonds have risen...Treasury and agency securities by decreasing, in a gradual and predictable

stable to slow, with inventories increasing and homes remaining on the...yields, while the outlook for cotton and soybeans hinges on the impact

stable longer-term inflation expectations. Indeed, over the 12 months ...remain stable. Although overall inflation is low, since summer we have