Bond Market Has Worst Week in Months With Less Fed Action Seen
- Treasury 30-year yield has climbed more than 25 basis points
- Yields on US 10-year notes exceed those on three-month bills
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An orderly selloff in the US government bond market continued for a fifth straight day, with the 30-year bond’s yield posting its biggest weekly increase of the year.
Driven in part by shifting expectations the Federal Reserve will cut interest rates next month and potentially pause next year, the rise in yields back toward their November highs also was fueled by weak demand for an auction of 30-year debt Thursday. The yield for that tenor reached 4.61% on Friday, about 28 basis points higher on the week.