US Treasuries have entered the longest sustained slump in 38 years, as policymakers signal their determination to keep raising rates until they are sure inflation is under control.
The yield on benchmark 10-year notes jumped 23 basis points this week to 4.26% on Friday, heading for a 12-week streak of increases that would match the duration of the 1984 episode when then-Federal Reserve Chairman Paul Volcker was carrying out a series of rapid interest rate hikes.
