{"id":238047,"date":"2026-01-27T11:08:18","date_gmt":"2026-01-27T16:08:18","guid":{"rendered":"https:\/\/ibkrcampus.com\/campus\/?post_type=glossary-terms&#038;p=238047"},"modified":"2026-01-27T11:08:21","modified_gmt":"2026-01-27T16:08:21","slug":"bear-steepening","status":"publish","type":"glossary-terms","link":"https:\/\/www.interactivebrokers.com\/campus\/glossary-terms\/bear-steepening\/","title":{"rendered":"Bear\u2011Steepening"},"content":{"rendered":"\n<p>Bear\u2011steepening refers to a change in the yield curve where long\u2011term interest rates rise faster than short\u2011term rates, causing the curve to become steeper. The term \u201cbear\u201d signals that bond prices are falling (since yields rise when prices fall).<\/p>\n\n\n\n<p>What it usually indicates:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Markets expect higher inflation, stronger growth, or more government borrowing in the future.<\/li>\n\n\n\n<li>Investors demand higher yields to hold long\u2011term bonds.<\/li>\n\n\n\n<li>Short\u2011term rates may rise slightly or remain anchored by central bank policy, while long\u2011term rates move up more sharply.<\/li>\n<\/ul>\n\n\n\n<p>Why it matters:<\/p>\n\n\n\n<p>A bear\u2011steepening curve often reflects tightening financial conditions and can influence borrowing costs, mortgage rates, and equity valuations.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bear\u2011steepening refers to a change in the yield curve where long\u2011term interest rates rise faster than short\u2011term rates, causing the curve to become steeper. 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