The rise in longer-dated yields came alongside smaller gains in their shorter-term peers after a disappointing auction of three-year notes on Tuesday. Ten- and 30-year debt will be sold over the next two days.
Treasuries sank for a third straight day with long-end yields rising most amid growing cracks in the haven status of US government debt.
The sell-off was sharpest in notes and bonds maturing in 10 to 30 years, where losses are amplified when yields climb. The yield on 10-year notes rose 20 basis points in Asia trading Wednesday, while the 30-year’s was up 21 basis points to 4.97% — more than 60 basis points from last week’s lows.
