Treasury yields slide to their lowest level in 2 weeks

US Treasurys are gaining for a second straight day as a quiet holiday trade persists into the New Year.

Early buying has yields down as much as 3 basis points (bps) in the belly of the curve, and at their lowest level in two weeks.

Here's a look at the scoreboard as of 7:28 a.m ET:

• 2-year -1.2 bps at 1.242%
• 3-year -1.9 bps at 1.505%
• 5-year -3.0 bps at 1.980%
• 7-year -2.2 bps at 2.289%
• 10-year -2.4 bps at 2.489%
• 30-year -2.0 bps at 3.075%

The Treasury complex has been under pressure since the election amid speculation President-elect Donald Trump's ideas on infrastructure spending, taxes, and trade would bring back inflation to the United States. In the six weeks following the election, selling ran longer-dated Treasury yields up more than 90 bps to their highest levels since September 2014.

However, the yield curve has actually flattened, a sign that maybe those speculating on a return of inflation might be getting ahead of themselves. The 5-30-year spread is trading at 109.2 bps, about 20 bps flatter than the night of the election.