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Treasury Selloff Lifts Long-Dated Yields for Second Straight Day

  • Loss follows Treasuries’ worst start to a year since 2009
  • Resumption of corporate bond sales is leading catalyst
Updated on

Treasury yields rose a second day amid increasing conviction that the Federal Reserve will raise rates at least three times beginning in May.

Long-maturity yields rose the most, which traders attributed to a second day of heavy supply of new corporate bonds following a three-week lull at the end of last year. The five-year note’s yield climbed as much as 4 basis points to 1.395%, the highest since Feb. 20, 2020, but ended the day higher by less than a basis point.