Treasuries rally, yield curve steepens on Fed plan

Treasuries rallied and the U.S. yield curve steepened after minutes of the Federal Reserve’s March meeting revealed most officials backed starting to shrink the central bank’s $4.5 trillion balance sheet later this year. The 10-year yield fell three basis points to 2.33 percent at 2 p.m. Mountain time, Bloomberg Bond Trader data show. The yield curve from five to 30 years steepened for a fifth straight session, the longest streak since September, to 113 basis points. It’s the widest spread since...

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