Treasurys

The latest leg higher came as elevated energy prices added to inflationary pressures and corporate new issues weighed on the market.

The declines pushed most US yields higher by 10 basis points in mid-morning trading, with 10- and 30-year benchmark yields near the highest since 2007 and 2004.

A fresh jump in oil prices on Thursday lifted five- to 30-year Treasury yields to new multiyear highs in choppy U.S. trading, with the 30-year rising as much as seven basis points to 5.47%, its highest since 2004.

Rising oil prices sparked the declines earlier in the session, fanning worries around elevated inflation and punishing European government debt as well.

While the Fed move was expected, Chairman Kevin Warsh's rhetoric on inflation drove up market-implied expectations for at least one more increase this year and as many as two more in 2027.

Economists in a recent Bloomberg survey expected policymakers to hold their outlooks for unemployment and inflation largely unchanged.

There has been a stark change in regime when 10-year yields go much above 5.25%. After that point, the risks to bond volatility and hence stock vol and credit spreads markedly increase.

nterest-rate swaps showed traders ramped up bets on higher benchmark rates in the months ahead, with sticky price pressures seen pushing policymakers led by Fed Chairman Kevin Warsh to act.

Thursday's purchases were under increased scrutiny as the first since Bessent unexpectedly announced that the department would "at least double" the size of operations previously penciled in at $2 billion.

Credit premiums remain subdued and downside protection across risky assets is still relatively cheap. Even the strain in market plumbing has been concentrated.

Waller said he was "willing to support holding the policy rate at its current level" if inflation continued moving toward the Fed's 2% target.

The move started on Friday after Federal Reserve Chairman Kevin Warsh doubled down on his vow to finally tame inflation, and has extended as energy prices rose on conflicts in the Middle East.

The emergency household-repairs provider is offering $1.8 billion of bonds backed by its assets through a whole-business securitization led by Jefferies Financial Group.

The dollar is trading at a three-month low after the Treasury's surprise midweek announcement that it would double the amount of longer-dated bonds it can repurchase ahead of schedule.

His action after 10-year Treasury yields, his self-specified financial benchmark, rose above where they were before Trump returned to office, shows mounting worries in Washington.

The new plan drove yields on the longest bond lower by nearly 10 basis points to 5.18%, pulling them back from their highest levels since 2007. The dollar fell by the most in three months.

The moves were echoed across sovereign debt markets from Europe to Japan, fueled by an uncertain outlook for inflation and changing bond-buyer demographics.

As the AI borrowing spree keeps accelerating, the spillover effect is playing a growing role by taxing the market's ability to absorb so much debt.

An in-line reading of the consumer price index helped US Treasuries keep their gains on Wednesday, with the two-year yield lower by three basis points to 4.18%.

Over the course of a week, he took steps that they see as aimed at easing pressure on the Treasury market after long-term rates surged to a 19-year high.