US 30-year bond yield hits fresh 24-year high
The yield on the US 30-year bond hit a fresh 24-year high of 5.7041 per cent on Wednesday, as a global bond selloff resumed amid inflation and fiscal worries. Traders awaited Treasury auctions later in the week to test appetite for US debt.
The yield on the US 30-year bond hit a fresh 24-year high on Wednesday, as a selloff in world bond markets resumed a day after getting some respite from worries over higher inflation and government debt loads.
The 30-year yield briefly touched 5.7041 per cent ahead of the release of the Federal Reserve's September meeting minutes later in the day, according to Reuters.
Global yields resumed their climb, reversing some of the relief felt in the previous session, as inflation and fiscal worries weighed and oil prices rose again. Brent crude futures were last up over 1 per cent on the day at around US$101.54 a barrel.
Traders also awaited a 10-year Treasury bond auction later in the day and a 30-year auction on Thursday, the next test of appetite for US bonds.