Following up on my previous post about the 2s10s spread, I should note that the 2s10s is just one of many spreads. Its a benchmark. But you could just as easily look at the 2s5s, 5s30s, 10s30s, and so on. Below are a couple of alternative ways to keep tabs on the shape of the yield curve.
I like the below chart because it allows one to see how various constant maturities move in relation to one another over time. As you can see, the curve flattened during the last two major tightening cycles and so I remain skeptical of those that are calling for long-rate rises to outpace those of short-rate rises.
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