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U.S. Treasury yields climb before bond auction
U.S. Treasury yields rose ahead of the long-term bond auction, with the 10-year yield reaching 5.322%, the highest level since 2002, and the 30-year bond yield climbing to 5.705%. This comes amid investor expectations that the Federal Reserve may raise interest rates again before the end of the year to curb inflation, which has remained above target for five and a half years. Additionally, data indicates strong demand for Treasury securities despite the rising yields, with predictions that the 30-year bond auction will be the next gauge of investor appetite for U.S. debt.
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