Yield curve between US10Y and US2Y briefly normalizes after latest JOLTS data

seekingalpha09-05

U.S. Treasury yields fell across the board on Wednesday, as investors picked up bonds amid growth concerns exacerbated by latest data on the labor market. As a result of the decline, the yield curve ...

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As a result of the decline, the yield curve ...</p>\n\n<a href=\"https://seekingalpha.com/news/4146935-yield-curve-between-us10y-and-us2y-briefly-normalizes-after-latest-jolts-data\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Yield curve between US10Y and US2Y briefly normalizes after latest JOLTS data</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nYield curve between US10Y and US2Y briefly normalizes after latest JOLTS data\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-05 00:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4146935-yield-curve-between-us10y-and-us2y-briefly-normalizes-after-latest-jolts-data><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>U.S. Treasury yields fell across the board on Wednesday, as investors picked up bonds amid growth concerns exacerbated by latest data on the labor market. As a result of the decline, the yield curve ...</p>\n\n<a href=\"https://seekingalpha.com/news/4146935-yield-curve-between-us10y-and-us2y-briefly-normalizes-after-latest-jolts-data\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FT_SY_ZT","symbol_name":"2年美债","start_time":0,"source_url":"https://seekingalpha.com/news/4146935-yield-curve-between-us10y-and-us2y-briefly-normalizes-after-latest-jolts-data","article_id":"2465587277","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1245530973/image_1245530973.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2465587277","pubTimestamp":1725468781,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"U.S. Treasury yields fell across the board on Wednesday, as investors picked up bonds amid growth concerns exacerbated by latest data on the labor market. 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As a result of the decline, the yield curve between the longer-end 10-year yield (US10Y) and the shorter-end 2-year yield (US2Y) briefly normalized for just a second time in over two years, with the former inching above the latter.  The 10-year yield (US10Y) was last down 5 basis points to 3.79% in midday trade, while the 2-year yield (US2Y) was down 7 basis points to 3.80%.  See live data on how Treasury yields are doing across the curve on the Seeking Alpha bond page. The yield curve had also briefly un-inverted on August 5. That move had come after 25 straight months of inversion. An inverted yield curve is widely seen as an indicator of recession. A normalization of the curve is also not historically a positive sign, as the curve usually does un-invert before a recession hits.  Evercore ISI last month noted that the last two times the curve had decisively normalized, a noticeable market selloff had followed within a 12-24 month period.  Today's flight to the safety of bonds was triggered by the July Job Openings and Labor Turnover Survey (JOLTS), which came in softer than expected. The number of job openings dropped to 7.673M from 7.910M in June, while coming in lower than the 8.090M consensus. Wall Street was already sensitive to growth indicators coming into the JOLTS report, as evinced by a rout in equities on Tuesday that saw the three major averages post their worst day since \"Black Monday 2024.\"  \"10's-2's curve is dis-inverting back to positive territory for just the (second) time this year following one of the longest inversions ever (this happened briefly back on 8/5, but was unable to hold it). Weak JOLTS data looks to be pushing a bull steepening of the curve as it provided more evidence of weakening in the labor market,\" Mark Newton, managing director and global head of technical strategy at Fundstrat Global Advisors, said on X (formerly Twitter). \"Technically one can make the case for further steepening here given the quickness with which this yield curve has re-steepened back to near early August highs. Getting above this level is also (important) given that yield curve bottomed in 2019 near these levels and now is being tested. Thus, exceeding +1.4% would argue for a much larger move higher in steepening, as former support which should now represent resistance has been surpassed,\" Newton added.  Here are some exchange-traded funds tied to Treasuries and bonds that investors can track: (TLT), (TLH), (IEF), (IEI), (SHY), (SGOV), (SCHO), (BIL), (AGG), (BND), (VCIT), (MUB), (MBB), (JNK), (LQD), (HYG), and (TIP). More on the bond market  J.P. Morgan outlines how 12 asset classes perform depending on why the Fed cuts rates What The Short-Term Treasury Market Says About Rate Cuts, And How Wrong It Was So Far Market And Economic Insights From August 2024 Where Now For The U.S. 10YR SOFR? Wall Street Lunch: Here Come The Rate Cuts","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"Economic Data","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2465587277"}