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Treasuries Slide as China Said to View Them as `Less Attractive'

  • U.S. benchmark 10-year bond yields climb for a fifth day
  • China news unlikely to have lasting impact on Treasuries: ING
Bloomberg business news
It’s normal to see higher yields "at this phase in the Fed cycle," says Carl Weinberg of High Frequency Economics.Source: Bloomberg
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With some of the biggest names in the market urging caution and governments flooding the market with paper, debt traders braced for what they feared could be the final days of a three-decade bull market.

Benchmark yields in the U.S. rose for a fifth day after officials in China reviewing the nation’s foreign-exchange holdings were said to have recommended slowing or halting purchases of Treasuries. Sentiment was already fragile earlier Wednesday ahead of an issue of 10-year notes by the Treasury and a glut of supply from Europe.