(Bloomberg) -- A key segment of the US Treasury yield curve briefly turned positive as weaker-than-anticipated labor-market data bolstered bets on steep interest-rate cuts by the Federal Reserve.
Treasuries jumped on Wednesday — led by shorter-maturity notes that are more sensitive to the Fed’s monetary policy — after US job openings fell in July to the lowest since the start of 2021. That pushed the US two-year note’s yield momentarily below the 10-year note’s for only the second time since 2022 as traders built up wagers on a super-sized rate reduction this month.
