Treasuries Trade Mixed, With 30-Year Yield Near 2024 Highs
- Yield curve holds around the steepest level since 2022
- Fed measure of term premium reaches highest since late 2023
Skyscrapers on the skyline of the financial district in Frankfurt.
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Treasuries were mixed in thin trading as traders absorbed the prospect of a less aggressive path ahead for Federal Reserve interest-rate cuts and priced in greater risk for US long-term debt.
Benchmark 10-year yields traded little changed at roughly 4.6%, while two-year rates edged lower. The result is that the yield premium on the longer maturity widened to above 27 basis points — holding close to the largest gap since 2022. Thirty-year Treasury yields have plowed higher, with the rate at 4.78% Friday, near the highs for this year set in April.