A key segment of the US Treasury yield curve approached its most inverted level in decades Monday as traders priced in further Federal Reserve policy tightening. The two-year note’s yield exceeded the 10-year rate by as much as 110.8 basis points as the shorter-maturity rate reached 4.96%. The inversion touched 110.9 basis points in March, a level last seen in the early 1980s, according to data compiled by Bloomberg. The inversion eased slightly during US morning trading — to around 108 basis points — after the ISM manufacturing gauge for June unexpectedly declined to a three-year low, reflecting weakness in its ... (full story)