U.S. Treasury yields rise slightly during Asian trading; Wosh's nomination drives the curve to steepen

2026-02-04 11:39:48

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U.S. Treasury yields edged higher during Asian trading hours as the market digested the fact that the January employment report could not be released as scheduled on Friday due to a partial government shutdown. However, the U.S. Treasury yield curve maintained its steepening trend, with the spread between short-term and long-term bonds widening. Christoph Rieger of the Research Department at Deutsche Bank noted in a report, “The bond market is slowly adjusting to Kevin Warsh, and the steepening trend may extend.” Last Friday, U.S. President Trump nominated former Federal Reserve Governor Kevin Warsh as the next Fed Chair. According to Tradeweb data, the 2-year U.S. Treasury yield rose 0.4 basis points to 3.573%, the 10-year yield increased 0.4 basis points to 4.280%, and the 30-year yield rose 0.6 basis points to 4.914%.

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