30-year Treasury Bond

The 30-year US Treasury Bond, also known as the long bond, or bellwether treasury. It is the most important indicator of markets' expectations on inflation.

Markets most commonly use the yield (rather than price) when referring to the level of the bond. As in all bonds, the yield on the 30-year treasury is inversely related to the price. D9HH9MG6BXPW

Discount Rate

The interest rate at which the Fed charges commercial banks for emergency liquidity purposes. Although this is more of a symbolic rate, changes in it imply clear policy signals.

The Discount RateDiscount Rate is almost always less than the Fed Funds Rate.

Interest Rates

Fed Funds Rate: Clearly the most important interest rate. It is the rate that depositary institutions charge each other for overnight loans.

The Fed announces changes in the Fed Funds rate when it wishes to send clear monetary policy signals. These announcements normally have large impact on all stock, bond and currency markets.