Opening Rant
The FOMC is scheduled to meet next week and the likelihood of them doing anything of significant meaning at this current meeting seems highly unlikely. Even though the market has seemly begun to prepare for a rate hike, next week will not be the week it happens.
We can see the US Treasury yield curve has moved a little bit higher over the course of the past few months. However, the Japanese yield curve is the one that has seemly steepened the most.
The most dramatic way to see the shifts in the yield curves is by exploring the 10-2s for each country. I also like to view the 10-10s, which is a simple way to see 10-year yields of each country vs. one another.
You can see how the US yield curve has continuously been steepening over