U.S. Treasury yields took a breather after long-term interest rates surged midweek on intensifying debt concerns.
Yields on U.S. government bonds were in the red on May 22, with the benchmark 10-year yield dropping by 5 basis points, to about 4.547 percent. (One basis point is 1/100 of a percent.)
The 30-year Treasury yield dipped more than 2 basis points, to 5.065 percent. The long-term bond had been as high as 5.14 percent during the session, its highest level since October 2023, before erasing its gains.
Investors are fearing that the demand for U.S. bonds is beginning to wane. This concern was displayed in the financial markets following the dismal $16 billion auction of 20-year bonds on May 21, resulting in one of the worst performances in the security’s five-year history….