Bond Traders Bet Against Further Yield Curve Flattening: Chart

Traders in the $14.1 trillion Treasuries market have had enough of the persistent yield-curve flattening this year. Open interest data show they’re exiting bets after the yield spread between five- and 30-year maturities fell to the lowest level since 2007 this week. In one case, a trader executed large futures blocks in a bet the curve from seven to 30 years would steepen. It has, leaving the wager up more than $10 million in just over a day.

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