
The Secular Decline in Long-Term Yields around FOMC Meetings
is a fascinating paper from March 2020 from Sebastian Hillenbrand. Some amazing figures and results follow. Long-term U.S. Treasury yields fell by almost 8% between 1980 and 2017. I document thatthe entire decline in long-term interest rates was realized in a 3-day window around FOMCmeetings. I find a similar pattern for U.S. equities: the same […]