The US 30-year yield declined as much as four basis points to 4.76%, its lowest level this week. The two-year pared about half of an increase of as much as four basis points. The shrinking gaps between short- and longer-term yields were larger in most European bond markets than in the US.
Treasuries joined most other government bond markets in sending long-term yields lower as trade tensions continue to stoke haven demand.
Ten-to 30-year yields reached session lows during the US morning, led by bigger yield declines in most European government bond markets. Those were spurred in part by reports that the European Commission is set to announce a provisional list of tariffs against the US on Thursday. US short-term yields, meanwhile, pared their increases ahead of Wednesday’s US Federal Reserve (US Fed) interest-rate decision.
