Treasury Yields Surge in Worst Selloff Since March 2020 Crash
MobileNewspepar -02(Bloomberg) — US Treasury yields surged on Monday, with poor demand for a two-year note auction triggering renewed selling that propelled key benchmarks higher by more than 20 basis points — and sent the 10-year rate up by the most since the March 2020 Covid crash.
Treasury options flow was active and mixed in direction with yields at extended peaks.
In a sign of further tightening financial conditions, the 10-year Treasury inflation protected yield rose 31 basis points to 1.62% for the first time since April 2010.
The rates on both tenors fell around three basis points on Tuesday.
The spread between the two- and 30-year yields widened to as much as negative 0.68 percentage points, the deepest inversion since 2000, before easing back to unchanged late in trading on Monday.
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