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US Treasuries Reach Steepest Levels Since 2016 on Brexit Deal Hopes
The Treasury yield curve reached its steepest level in four years as risk appetite improved amid signs that negotiators from the U.K. and the European Union are drawing close to a post-Brexit trade deal. The gap between 5- and 30-year yields expanded on Wednesday to its widest since November 2016 as investors sold long-term debt and stocks climbed given the potential for reduced trade tension and a brighter outlook for the global economy. The sustainability of the move in rates remains a wildcard given uncertainty over the U.S. stimulus package, after President Donald Trump demanded changes. Short-term rates held ... (full story)