Goldman Sells Most Yen Steepeners Since ’06 as Spread Rise Seen

Goldman Sachs Group Inc. sold the largest so-called steepener notes denominated in yen in eight years as investors bet the spread between short- and long-term interest rates in Japan will widen.

Signum Finance Cayman Ltd., a special purpose vehicle of the New York-based investment bank, issued 6 billion yen ($59 million) of the notes earlier this month in two separate offerings, according to data compiled by Bloomberg. The last time more steepener securities were sold was in September 2006 when a funding company Japan Finance Organization for Municipalities raised 20 billion yen.