FYI: Since December 2015, the Federal Open Market Committee (FOMC) has increased the target range for the federal funds rate by 25 basis points three times, bringing the target range from 0 to 25 basis points in late 2015 to 75 to 100 basis points in March 2017. This Note examines how this cumulative 75 basis point increase in the target range for the Fed’s policy rate has transmitted to other short-term interest rates.1 We look at overnight unsecured and secured funding rates and several term rates, considering those that are available to institutional market participants as well as retail investors.
Regards,
Ted
http://ritholtz.com/2017/06/feds-rate-hikes-affected-short-term-interest-rates/
