Economics
Treasury Selloff Enters Second Day as 10-Year Yields Breach 3.2%
- Yield on 30-year bond climbs to highest level in four years
- Move follows stronger-than-expected economic data Wednesday
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A rout in Treasuries extended into a second day as global investors priced in stronger U.S. economic growth and a faster pace of Federal Reserve rate hikes. Benchmark 10-year yields climbed above 3.20 percent for the first time since 2011 and the dollar strengthened.
Improved investor appetite for riskier assets drove the leap in yields that started Wednesday following the release of upbeat news about American jobs and ebbing concern about the fiscal situation in Italy. Thirty-year bond yields climbed to the highest since 2014.