The US treasury yield curve has significantly steepened. It is reported that Trump asked whether Powell should be fired.

The yield curve of US Treasury bonds has steepened significantly, with long-term yields rebounding from intraday lows. Previously reported by CBS, US President Donald Trump asked a group of Republican members of the House of Representatives whether he should dismiss Federal Reserve Chairman Jerome Powell. As the market anticipates that Powell's successor will quickly cut interest rates as requested by Trump, short-term yields remain near intraday lows, driving the widening of the yield curve spread. The 5s30s and 2s10s spreads both reached their widest levels intraday, expanding by 1 and 2.5 basis points respectively; the 5s10s30s butterfly spread decreased from around -89 basis points to nearly -92 basis points. The yield on US 10-year Treasury bonds rose by about 3 basis points that day, to 4.45%.