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Treasury yield curve flattens post the US GDP report

FXStreet (Mumbai) - The upward revision of the US Q3 GDP number led to sharp gains at the short-end of the treasury market curve compared to the yields at the long-end.

The yield curve appeared to have flattened post the GDP release. The ten-year yield trades largely unchanged around 2.3%, while the two-year yield has recovered to 0.539%, from the day’s low of 0.524%. Similar action is witnessed in the five-year yield, which hit a high of 1.619%. On the other hand, the 30-year yield and the ten-year yields are largely unchanged post the GDP data.

Moreover, the second estimate of the US GDP data surprised markets by printing at 3.9%, compared to the consensus estimate of 3.3%. A strong GDP print may see bond markets in the US price-in an early interest rate hike in the US.

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