⚖️🇩🇪 German Bund Curve Steepens The Most: Cable FX Macro

**As seen in Macro Walk report 05/12/23, subscribe at cablefxm.co.uk/reports

• Over the last month, the German curve has steepened the most, the 10.8 basis points move has sent the spread between the 2-year and 10-year yields to invert by 31 basis points. The German Bund curve inversion is now off the 68 basis points lows seen back in March

• The U.S. Treasury curve is relatively unchanged as the spread between the 2-year and 10-year yields remains inverted by 52 basis points

• Australian curve flattened the most over the last month, AUGB front-yields tick higher than the 10-year yield by 15 basis points