Impact of US Inflation Figures on Six-Month T-Bill Yields

Six-month T-bill yields, which reached a 30-year high of 4.4% in December 2022, have mostly ranged between 3.7% to 3.8% since March 2023 amid a high-interest rate environment.

Recent unexpectedly high US inflation figures have tempered hopes for multiple interest rate cuts by the Federal Reserve, with markets now expecting just two rate cuts this year, with the first potentially in September.