Traders Flee From Treasuries in One of Biggest 2020 Yield Spikes
- Comes amid sign of progress on economic stimulus in Washington
- Investors shifted into stocks, which also depressed the dollar
This article is for subscribers only.
Investors dumped Treasuries amid a glimmer of hope that the U.S. Congress will reach an economic-stimulus compromise, driving one of the year’s biggest increases in long-term yields.
Bonds sank as investors shifted to riskier assets like stocks, encouraged by the prospect that help is coming for the U.S. economy. Rates on 30-year Treasuries spiked as high as 1.683% on Tuesday, rising 10 basis points. Yields on 10-year notes jumped to 0.94%, the highest since Nov. 12.