U.S. Curve Resteepens as Pressure Builds From Japan, Refunding
- 10-year Treasury yield rise above 3% for first time since June
- Spread from 2- to 10-year Treasuries widens from 11-year low
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Global forces are once again amplifying the pressures derailing the U.S. yield curve’s flattening trend.
Volatility in Japanese government bonds on Wednesday contributed to the pressure that drove U.S. 10-year yields back above 3 percent for the first time since mid-June. The U.S. curve steepened as a result, nudging it further away from the almost 11-year low reached last week.