Treasuries Extend Slide as Traders Worry About the Bond Market
- Benchmark 10-year yield rise to touch highest level since July
- Traders price in less Fed policy easing over the next year
The US Treasury building in Washington, DC.
Photographer: Samuel Corum/BloombergThis article is for subscribers only.
A selloff in US Treasuries showed few signs of abating on Wednesday, with securities falling for a third day amid a broad repricing of expectations for interest rate cuts by the Federal Reserve.
Yields advanced across maturities, with the benchmark 10-year rate reaching 4.26%, the highest since July. A rout in US stocks added to the pressure with investors now demanding the highest premium to hold longer-dated government debt in almost a year.