Treasury Curve Steepens as Microsoft Issue Includes 40-Year Debt
- Accouncement of 7-part deal weighs on long Treasuries
- Short end benefits as stocks fall on U.S. immigration policies
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The Treasuries curve steepened Monday as a $17 billion bond offering by Microsoft Corp. drove up 30-year yields, while shorter maturities benefited from a global equity selloff spurred in part by concern over U.S. immigration policies.
U.S. long-bond yields rose as much as 3.1 basis points to about 3.09 percent and were up about 2 basis points at 3:27 p.m. New York time. Shorter maturities were little changed, off lows reached concurrently with U.S. equity benchmarks.