U.S. government bond yields broadly rose on Thursday, with the 10-year yield hitting a new high of 4.8589% since November 2023, as investors awaited wholesale inflation data.
U.S. government bond yields generally rose on Thursday, with the 10-year Treasury yield climbing over 2 basis points to 4.8589%, reaching its highest level since November 2023. The 2-year yield rose 1 basis point to 4.4404%, and the 30-year yield increased over 2 basis points to 5.3092%. Investors are awaiting U.S. wholesale inflation data due later today, as well as Friday's Consumer Price Index, for clearer guidance on the U.S. inflation outlook and the Federal Reserve's interest rate decision next week. Yields had already risen after U.S. Treasury Secretary Scott Bessent announced on Wednesday that the Treasury would repurchase $6 billion in long-term government bonds.
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