Interest rates declined dramatically over the two weeks before 4 July 2022.

Judge for roughly 20 June to 1 July 2022 (the last trading days before 4 July 2022). True if benchmark market interest rates (e.g. 10-year U.S. Treasury yield, 2-year yield, or mortgage rates) fell sharply over that period, e.g. the 10-year yield declining by about 30 basis points or more from its mid-June peak. Mostly true if major benchmarks fell by about 20–30 bp, a notable but less dramatic drop. Mixed if some benchmarks fell meaningfully while others were flat or rose. Mostly false if declines were small (under ~15 bp) so 'dramatically' substantially overstates it. False if benchmark rates were flat or rose over the period.

Set before the research began.

1. E1 Normal International Monetary Fund, Global Markets Monitor (Monetary and Capital Markets) · 30 June 2022

   “US Treasury yields declined by 5–8 bps across tenors, with 10-year yields down 8 bps to 3.1%.”

2. E2 Normal International Monetary Fund, Global Markets Monitor (Monetary and Capital Markets) · 30 June 2022

   “has pushed US Treasury yields down 10 to 15 bps across maturities”

3. E3 10-year Treasury yield tops 3.48%, the highest in 11 years CNBC · 14 June 2022

   “The yield on the benchmark 10-year Treasury note slipped around 9 basis points to 3.276%, paring gains after climbing to 3.39%”

E3, a CNBC report titled "10-year Treasury yield tops 3.48%, the highest in 11 years" and dated 14 June 2022, puts the mid-June peak of the 10-year Treasury yield at about 3.39–3.48%. The IMF's Global Markets Monitor of 30 June 2022 (E1) puts the 10-year yield at 3.1%, and E2 notes moves that pushed yields down 10–15 bp across maturities. That is a fall of roughly 30–38 bp from the mid-June peak, which meets the criteria's threshold for a dramatic decline. The evidence does not show the exact 20 June starting level, but the measure the criteria name, the fall from the mid-June peak, is met.