The yield curve's inversions deepened in June after Fed Chair Jerome Powell indicated that the central bank would likely raise rates two more times this year.
Stronger-than-expected economic data on Thursday backed expectations that the Fed will keep interest rates higher for longer.
Treasury yields- which move inversely to prices - moved up, with 10-year and two-year yields hitting their highest since March 10 and 9, respectively, while some curve inversions intensified.
The spread between one- and 30-year Treasury yields was as wide as 153 basis points on Wednesday, its biggest gap since 1981.
Key areas of the U.S. economy, including housing and labor, have proven resilient despite higher rates.
Persons:
Jerome Powell, Powell, Janet Rilling, Huw Roberts, Davide Barbuscia, Chuck Mikolajczak, Ira Iosebashvili, Sam Holmes, Aurora Ellis, Nick Zieminski
Organizations:
YORK, U.S, Treasury, Federal, Allspring Global Investments, Quant, Thomson
Locations:
U.S