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US Two-Year Treasury Yields Back Away From Highest Since 2007

  • Bonds pare selloff driven by Powell’s Jackson-Hole speech
  • ‘We retain our view for flatter curves’: Nomura’s Ticehurst
Bloomberg business news
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Bonds trimmed a selloff that drove short-term US yields to multiyear highs, with traders balancing inflation risks against the threat of an economic slowdown that may be exacerbated by aggressive central bank hikes. 

The US two-year rate pared a surge that sent it to the highest level since November 2007 following Federal Reserve Chair Jerome Powell’s Jackson Hole speech that a restrictive stance was likely to remain in place “for some time.” European bonds led losses after a top central bank official said more tightening is needed even if the economy tips into recession.