Treasuries Stabilize After Selloff, Stocks Decline: Markets Wrap
US Treasury yields stabilized near multi-year highs after a selloff driven by rising oil prices and Fed rate-hike expectations, while Asian stocks declined.
Bond investors got a respite from a bruising selloff after surging oil prices and mounting bets on further Federal Reserve interest-rate hikes drove Treasury yields to multi-year highs. Asian stocks fell.
The US 10-year yield held at 5.23% in Asian trading after climbing as much as 11 basis points Monday to the highest since 2007. Two- and 30-year yields were steady as traders braced for the Fed to keep tightening policy to rein in inflation. Australian government bonds were little changed ahead of a central bank policy decision later Tuesday.
