Treasurys are getting smashed
- 2-year +1.9 basis points @ 1.129%
- 3-year +2.9 bps @ 1.416%
- 5-year -4.5 bps @ 1.882%
- 7-year +5.6 bps @ 2.254%
- 10-year +6.0 bps @ 2.467%
- 30-year +5.9 bps @ 3.164%
Friday's selling is a continuation of the selling that has been in place since Donald Trump was elected President on November 8. Longer dated yields are trading at their highest levels since the end of June, having rallied more than 70 bps on the presumption that Trump's protectionist trade policy and plan for massive infrastructure spending will ignite the return of inflation to the United States.
Investing.com
Interestingly, the yield curve has not steepened post-election, as would typically be the case if the market believed strong economic growth and inflation were on the horizon. The spread between the 5-year and 30-year narrowed from 129 bps on Election Day to 117 bps into Thanksigving, but has since ticked back up to 128 bps.
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