Treasury yields touched a 16-year high as global stocks and bonds slid after strong US economic data added to investors’ fears that interest rates will stay higher for longer to combat persistent inflation.
The benchmark 10-year Treasury note rose 0.08 percentage points to 4.49 per cent, according to Bloomberg data, after data showed US applications for unemployment benefits — a proxy for lay-offs — last week fell to their lowest level since January.
Longer-dated US Treasuries also sold off, with the yield on the 30-year bond rising 0.13 percentage points to 4.57 per cent.
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