Original title: Treasuries Join Global Bond Selloff With 30-Year Yield Near 5%
Treasuries dropped, following a slump in longer-maturity European debt, with the US 30-year yield climbing toward 5% at the start of a month historically tough for long bonds. Longer-maturity yields climbed about three basis points Tuesday, trading off their session highs after ISM manufacturing data showed weakness in overall activity, employment and prices paid. Treasuries came under pressure again Wednesday, with the 30-year yield edging up one basis point to 4.98%.