The sell-off in US government debt continued to hit the world’s largest bond market on Monday, with yields on benchmark Treasuries hitting new 16-year highs as investors come to grips with an economy that refuses to slow.
The yield on the 10-year note rose as much as 0.1 percentage points to 4.35 per cent, surpassing a previous high in October and sending it to the highest level since November 2007. The yield was still close to that level in late afternoon trading. Bond yields rise when prices fall.
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