1058 GMT - Ten-year U.S. Treasury yields extend their falls but caution prevails in face of last week's historic volatility. "Treasury yields traded in a historically volatile range, with the curve bearishly steepening," rates strategists at J.P. Morgan say in a note. Bearish steepening refers to the widening of the spread between short- and long-dated bond yields driven by a faster rise of long-end yields. Measures of term premium have moved higher, but the divergence of yields to J.P. Morgan's fair value model has been at current levels multiple times in prior years, the strategists say. "We think the moves this week were exacerbated by long positioning." The 10-year U.S. Treasury yield falls 6 basis points to last trade at 4.433%, according to Tradeweb. (emese.bartha@wsj.com)
(END) Dow Jones Newswires
April 14, 2025 06:58 ET (10:58 GMT)
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