US yield curve steepest in a week after manufacturing data SECTIONS Last Updated: Jun 01, 2021, 08:39 PM IST Share Synopsis The steeper yield curve on Tuesday reflected expectations that the Federal Reserve would hold interest rates low for now, even as the economy recovers. The benchmark 10-year yield , a proxy for the market's view on the health of the economy, was last 3.7 basis points higher on the day to 1.630%. Related NEW YORK: The U.S. Treasury yield curve hit its steepest level in a week on Tuesday morning after manufacturing data showed strong demand, even as industry faced labor and raw material shortages.