The US 30-year bond’s yield exceeded its June 2022 high, revisiting levels last seen in July 2014, in a Treasury market selloff fueled in part by new corporate bond sales and a stronger-than-expected gauge of services activity.
(Bloomberg) — The US 30-year bond’s yield exceeded its June 2022 high, revisiting levels last seen in July 2014, in a Treasury market selloff fueled in part by new corporate bond sales and a stronger-than-expected gauge of services activity.
Those catalysts unfolded against a backdrop of ongoing Federal Reserve policy tightening and indications that an economic soft landing remains possible.
The 30-year yield rose as much as 15.4 basis points to 3.4975%, exceeding its June 16 high. It ended last year at a little over 1.9%.
The Fed has raised its policy rate four times since March by a cumulative 2.25 percentage points. Traders see another three-quarter-point hike as the likeliest outcome of the Sept. 20-21 meeting.
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