(Jamie McGeever – Reuters)
U.S. Treasury yields tumbled on Thursday and were on track for the biggest weekly decline since late 2015 after U.S. President Donald Trump said he would like to see interest rates stay low, while inflows into bonds drained life from stocks.
The dollar slumped after Trump’s remark that it was “getting too strong” and would hurt the U.S. economy, but it later clawed back those declines to snap a three-day losing streak, its longest since January.
The fall in 10-year Treasury yields narrowed the premium over shorter-dated yields. This flattening of the yield curve hurt bank stocks, which were among the biggest fallers on European markets. Click here to read more.