Relative to each other by duration, bond yields on average normalized at the beginning of December, and notes on average in mid-December.
Last week the spreads narrowed as bills on average rose a little bit in the aggregate and bond yields fell.
The 20-year bond was the yield leader at 4.75 while the 1-year bill was the yield laggard of all the issues at 4.25.
The fixed rate 30-year mortgage averaged 6.89 last Thursday.
