Moderate selling is having the biggest impact on the belly of the curve where yields are higher by almost 8 basis points. Here's a look at the scoreboard as of 9:16 a.m. ET:
- U.S. 2-Year +3.8 bps at 1.125%
- U.S. 3-Year +5.2 bps at 1.398%
- U.S. 5-Year +6.9 bps at 1.839%
- U.S. 7-Year +7.7 bps at 2.192%
- U.S. 10-Year +7.2 bps at 2.384%
- U.S. 30-Year +6.3 bps at 3.062%
Up front, the 2-year yield has crossed the 1.10% threshold, and is at its highest level since April 2010. Additionally, yields at the long end of the curve are at their highest levels since mid-to-late 2015.
Wednesday's selling has swung the yield curve steeper with the 2-10-year spread wider at 126 bps. The spread would have to climb above 129 bps to top the November 18 high.