The Flatter U.S. Yield Curve Is Roiling Mom and Pop Investors
- Wall Street sold millions of dollars of ‘steepener’ products
- Coupons on some fall to below 1 percent on U.S. curve pain
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As the yield curve flattened to the lowest in more than a decade, the fallout spread beyond the realms of high finance and central banking.
It also caused the value of hundreds of millions of dollars worth of debt -- often held by retail investors -- to evaporate.