Look at the shape of the curve across the years. In some years, it steepened, and in others, it flattened.
a. What specific Fed actions or market events caused the curve to flatten so dramatically from January 2013 to January 2014?
b. What factors caused the 10 and 30-year bond rates to flatten from January 2014 to September 2014 (and remain flat through September 2015)?
c. Discuss the impact of the flattening described in 2b. on themacroeconomy, on consumers, on bond investors, and on equity investors.