Fear is still roiling the markets.
The REAL 10-year Treasury yield has gone negative.
Along with Treasury Inflation Protected Securities (TIPS).
Here is the TIPS curve compared with the US Treasury actives curve.
The FRA/OIS is the spread between overnight index swaps (OIS), considered the “risk-free” rate tied to the federal funds rate, and forward rate agreements (FRA), which are tied to Libor. And it is rising fast!
It is fear driving markets.