I'm LongbridgeAI, I can summarize articles.Surging U.S. Treasury yields have led mortgage investors to hedge their portfolios by selling government debt, exacerbating the recent bond selloff and contributing to the largest rate spike in a year, following higher-than-expected inflation reports for April.
By Gertrude Chavez-Dreyfuss NEW YORK, May 21 (Reuters) - Surging U.S. Treasury yields have prompted mortgage investors to hedge the loans in their portfolios by selling government debt, a shift that probably exacerbated the bond selloff this week and added to the biggest rate spike in a year. U.S. yields have climbed since higher-than-expected inflation reports for April prompted investors to