A rout in U.S. Treasury debt that has helped trample stocks and revive recession fears in the U.S. took a breather on Tuesday, as long-dated Treasury yields recorded their biggest pullback since March.
But even before cash Treasury trading reopened with a bang on Tuesday following Monday’s U.S. bank holiday, some on Wall Street said that the “bear-steepening” trade in Treasurys had probably gotten ahead of itself.
Among…
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