Yield Grab Pushes U.S. Treasuries Curve to Flattest Since 2007
- Two-year notes underperform after April retail sales data
- Long-term debt climbs as investors seek safety, higher yields
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A stronger U.S. consumer and yield-hungry foreign buyers are steamrolling the Treasury market’s yield curve.
Two-year Treasuries underperformed 10-year debt for a fifth day as traders re-evaluated bets on Federal Reserve policy tightening after the strongest readings on U.S. retail sales and consumer confidence in a year. The gap between two- and 10-year yields, known as the yield curve, flattened to the narrowest since 2007 on a closing basis.