Scenario of a Triple Whammy for Long-Term Treasury Yields

DoubleLine Says Fed Rate Cuts Will Lead to Steeper Yield Curve

The US yield curve has further to steepen should the Federal Reserve unleash aggressive interest rate cuts, DoubleLine Capital’s Bill Campbell said.

Scenario of a Triple Whammy for Long-Term Treasury Yields

The Treasury market counts on the tariffs to slow the supply of new debt and could throw a hissy-fit if they end while the Fed cuts rates into accelerating inflation.

How a sharp steepening in the U.S. yield curve affects banks and the broader economy

WASHINGTON, D.C. September 8, 2025 — The U.S. Treasury yield curve, a crucial barometer of how the economy is doing, has steepened on fears of mounting public debt, President Donald Trump’s attempts to exert control over the Federal Reserve and his aggressive tariff policies. The shift has direct implications for banks’ net interest income and shapes their lending decisions, since banks borrow short-term and lend long-term, relying on the spread…