Treasuries Yield Curve Steepens After Mixed Long-Bond Auction
- Yield on 30-year bonds rebounded on soft appetite at offering
- Fed’s Kaplan sees debate this year on shrinking balance sheet
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The yield curve widened the most this year as investors showed a lack of enthusiasm at the Treasury’s $12 billion 30-year bond auction.
Direct bidders, including mutual funds and pension funds that place bids with the Treasury, bought 4.5 percent, the least since 2009. Primary dealers took 28.8 percent, up from 26.8 percent in the previous sale of the maturity.