FIA Market Briefing

Thursday, April 16, 2026
FIA RATE ENVIRONMENT: NEUTRALMixed signals — rates likely holding steady
Fed Watch
Fed Funds Rate Target
4.25% – 4.50%
Next FOMC Meeting
May 6–7, 2026
Yield Curve & Rates
3.61%
2-Year Treasury
+0.01 this week
Normal
+67 bps
10Y minus 2Y
4.28%
10-Year Treasury
-0.01 this week

What this means for FIA rates: The 10-year Treasury held essentially flat at 4.28% this week with volatility contained, so FIA options budgets are unlikely to shift meaningfully in the near term. The yield curve is normal (+67 bps), a healthy sign for insurer long-term portfolio returns.

Key FIA Rate Drivers
10-Year Treasury Yield0.01 this week
10-Year Treasury Yield
VIX (Volatility)13.31% this week
VIX (Volatility)
What This Means for FIA Cap Rates

With the 10-year holding at 4.28% and VIX calm at 18.2, option budgets are stable. Expect current FIA cap rates and participation rates to hold near-term.

FIA Rate Outlook

Rates likely holding steady. No major pressure in either direction — yields are flat and options costs are contained. The 10-year moved from 4.29% to 4.28% over the week, and VIX went from 21.04 to 18.24. The yield curve is positive (67bps spread) — a healthy sign for insurer portfolio returns. Status quo environment. Current rate offerings should remain stable in the near term.

Client Talking Points Today
  • Rate environment is stable — a good window to review existing FIA positions and consider reallocation.
  • Markets are up — the S&P gained 6.14% this week. Remind clients that FIAs let them participate in gains like these while protecting their principal from downturns.
FIA-Linked Index Performance
S&P 5006.14% this week
S&P 500
NASDAQ9.08% this week
NASDAQ
Russell 20006.63% this week
Russell 2000
2-Year Treasury0.28% this week
2-Year Treasury

Today Financial Agency • Jed Monsen • 801.857.1069

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