Moderate selling is having the biggest impact on the belly of the curve where yields are higher by almost 5 basis points. Here's a look at the scoreboard as of 8:41 a.m. ET:
- 2-year +2.0 bps at 1.107%
- 3-year +2.5 bps at 1.371%
- 5-year +3.6 bps at 1.806%
- 7-year +3.8 bps at 2.152%
- 10-year +3.4 bps at 2.346%
- 30-year +2.5 bps at 2.025%
Up front, the 2-year yield has crossed the 1.10% threshold, and is at its highest level since April 2010. Interestingly, yields at the long end of the curve still have not topped their highs from November 18, but are within a few basis points.
Wednesday's selling has swung the yield curve steeper with the 2-10-year spread wider at 124 bps. The spread would have to climb above 129 bps to top the November 18 high.
