Treasury Gap Gets Attention

A widely watched segment of the Treasury yield curve approached its steepest level in more than four years (Bloomberg)

The gap between 5- and 30-year yields rose above 145 basis points, just shy of its 145.9 basis-point peak the day after Donald Trump unexpectedly won the 2016 U.S. presidential election. It remained wider on the day even after the auction size announcement, which a number of primary dealers had predicted would reveal another round of increases even as the majority of those surveyed saw officials standing pat.