(Bloomberg) – Republican plans to overhaul the U.S. tax system are stoking demand for longer duration on the part of corporate pension funds, adding fuel to the seemingly inexorable flattening of the Treasuries yield curve.
That's the take from Peter Tchir, a strategist at broker-dealer Academy Securities Inc., who detailed the idea in a note this week as the curve flattened to levels unseen in a decade.
The House passed a tax bill last week, and the Senate Finance Committee approved a version as well, with lower corporate taxes factoring into both.
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