US yield curve flattens to decade low as Chicago PMI falls

NEW YORK: The spread between US short- and long-dated Treasuries shrank on Thursday to its tightest level in a decade as a private-sector gauge on Chicago-area factory activity unexpectedly fell to a one-year low in March.

At 10:04 a.m. (1404 GMT), the yield gap between two-year and 10-year Treasuries hit 47.1 basis points, which was the tightest since September 2007. It was last at 47.3 basis points, according to Tradeweb data.