The 10-year U.S. Treasury yield was marginally higher at 2.05%, while the three-month bill rate was down almost 3 basis points at 2.04%.

The curve had been inverted since May. That means shorter-dated yields were higher than longer-dated ones in what is considered a warning of looming recession.

And while the U.S. Treasury curve remains close to its flattest in years, it has steepened of late as expectations grow  the U.S. Federal Reserve is gearing up to cut rates, in turn pushing down short-term yields.