US 10-year Treasury yield hits two-week low

• US 10-year Treasury yield has slipped to lowest since Nov. 4. 
• The yield has shed more than 20 basis points over the last few days. 
• The curve has flattened with the yield spread hitting a two-week low. 

The yield on the US 10-year Treasury note has hit the lowest level in two weeks.

Currently, the benchmark yield is trading at 1.769%, the level last seen on Nov. 4. The yield is down 1.5 basis points on the day at press time and is flashing red for the third straight day.

Notably, the 10-year yield has declined by more than 20 basis points since topping out at 1.972% on Nov. 7. The curve between the

The recent slide in yields likely represents waning optimism on the US-China trade front. President Trump on Tuesday said that China was "moving along"  and would have to make a deal that "he likes", else the United States would raise tariffs on Chinese imports.

As a result, the 10-year yield fell close to five basis points on Tuesday. The curve flattened for the fifth straight day with the spread between the 10- and two-year yields falling to a two-week low of 18.7 basis points, according to Reuters.

The recent flattening of the yield curve has likely hurt the US dollar. The Dollar Index is currently trading at 97.82, having hit a high of 98.45 on Nov. 13.