Bonds snap back after 10-year yield hits 24-year high
US Treasuries reversed an early selloff as investors bought bonds, providing relief after long-term yields surged to their highest level in 24 years following recent hot economic data.
A wave of investor buying reversed an early selloff in US Treasuries on Thursday, easing pressure on bondholders after long-term yields climbed to their highest level in 24 years following the latest hot economic data. The turnaround opened October on an optimistic note for the bond market.