⚖️🔻U.S. 5s30s Curve Flattens to Lowest Level Since December: Cable FX Macro

• The hot March CPI print saw Treasury yields rising to extend fresh 2024 highs, the 10-year yield held above 4.50% after a $39bln note auction

• 2-year to 7-year yields recorded moves above 20bps on the day, this caused the curve to bear flatten. 5s30s inverted for the first time since September, however, it finished the session at 1.7bps

• 5s30s steepeners has been a popular trade this year, the unwind left the curve spread at the lowest level since December