Buyers have been snapping up longer-term Treasuries as negative yields on international government securities make U.S. debt attractive in comparison. At the same time, short-term Treasuries lagged behind at the end of last week on speculation that signs of U.S. economic strength will prompt the Federal Reserve to speed up its next interest-rate increase. The extra yield that 10-year Treasuries offer over two-year notes was about 0.95 percentage point on May 13, the lowest close since 2007.
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Treasuries Curve Is Flattening
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