But after the global benchmark topped 4.5% on Nov. 15, it quickly reversed course amid a wave of large purchases and hasn’t breached that level since. Ten-year yields closed at 4.4% last week and slipped further in Asia trading Monday as traders reacted to Trump’s Treasury secretary pick, to about 4.36%.
The US bond market is finally showing signs of steadying after a two-month selloff, with investors starting to swoop in whenever yields test new peaks.
Donald Trump’s presidential victory, stubbornly elevated inflation and a steady drumbeat of strong economic data have pushed 10-year Treasury yields up sharply since mid-September — and there’s no clear consensus of where they’re likely to go.
