Evolving Market Dynamics – Fed Funds vs. Treasury
Sam Gruer
November 20, 2025
Given the focus on recent activity of the Federal Reserve (Fed) and expectations of one more Fed rate cuts over the next few months, many of our clients have asked us what that might mean for the interest rates that they might earn on their bond proceeds. Accordingly, we reviewed the behavior of the Treasury market over the past approximately 20 years to see if we could identify quantifiable patterns and relationships between Federal Reserve activity and US Treasury securities.