The U.S. Treasury yield curve steepens significantly, reportedly Trump inquires whether to fire Powell

The U.S. Treasury yield curve steepened significantly, with long-term yields rebounding from intraday lows. Previously, CBS reported that U.S. President Donald Trump asked a group of House Republicans whether he should fire Federal Reserve Chairman Jerome Powell. As the market expects Powell's successor to quickly cut rates as Trump requests, short-term yields remain near intraday lows, widening the yield curve spread. The 5s30s and 2s10s spreads both reached their widest levels during the day, expanding by 1 basis point and 2.5 basis points, respectively; the 5s10s30s butterfly spread fell from about -89 basis points to nearly -92 basis points. The yield on the U.S. 10-year Treasury rose by about 3 basis points that day, to 4.45%