“Importantly, key resistance at -20bps has been cracked and the market appears to be targeting par,” says Leow in his July 25 note.
DBS Group Research analyst Eugene Leow is expecting the US yield curve to further steepen to “play out” in the current cycle.
The US Treasuries curve further steepened overnight, now putting between the two-year and 10-year spread to -14 basis points (bps).
