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Treasury selloff lifts long-end yields to 24-year highs

The 10-year and 30-year yields rose at least 7 bps to 5.34% and 5.7%, respectively, as investors weighed sticky services costs and the prospect of further Fed hikes.

Reported · Written up by our desk · Government Bonds

U.S. Treasuries fell again on Monday, extending a months-long slide that pushed longer-dated yields to fresh multi-decade peaks, LiveMint Markets reported citing Bloomberg.

The 10-year and 30-year yields rose by at least 7 basis points to 5.34% and 5.7%, respectively, the highest levels since 2002 and 2000. Shorter-dated Treasuries climbed by about 2 to 4 basis points.

Investors appeared cautious about calling a top in yields after the steady increase since mid-August, with the economy supported by booming AI infrastructure spending and elevated inflation keeping the prospect of additional Federal Reserve rate hikes on the table.

LiveMint Markets also pointed to a Monday services report showing cost pressures growing the most in more than four years last month, alongside ISM services data indicating the sector expanded at a slower pace but with prices paid coming in above forecasts.

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