- The 30-year Treasury yield rose above 5.59%, touching a level last seen in 2002 during the dot-com bust.
- The move extended a sixth straight day of gains for the longest-dated US bond, part of a deepening selloff across global debt markets.
- Elevated energy prices added to inflationary pressures, and hefty corporate-debt supply weighed on long-dated Treasuries.
Quotes
“The 30-year rate surpassed 5.59% on Tuesday to touch a level last seen in 2002”
“elevated energy prices added to inflationary pressures and hefty corporate-debt supply weighed on the market”