Monday, March 13, 2006

Government bonds hit further on rate jitters

David Turner in Tokyo, Joanna Chung in London and Richard Beales in New York, Financial Times

US Treasury prices fell, pushing yields towards last week’s highs. There was talk of “curve steepening” trades as two- and 10-year yields extended their gap.

By late trade, yields on two-year notes were off 1.3bp at 4.729 per cent and 10-year yields were up 0.4bp at 4.773 per cent.

A bad sign. A very bad sign.

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