Treasuries Selloff Ramps Up as Investors Spurn US Long-End Bonds
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Treasuries sank for a third straight day, with long-end yields rising most amid growing cracks in the haven status of US government debt.
The selloff was sharpest in notes and bonds maturing in 10 to 30 years, where losses are amplified when yields climb. The yield on 10-year notes rose 20 basis points in Asia trading Wednesday, while the 30-year’s was up 21 basis points to 4.97% — more than 60 basis points from last week’s lows.