US Treasury yields hit multi-year highs for a seventh consecutive session on Thursday, extending a historic bond-market selloff before a decline in oil prices helped stabilize markets battered by their worst quarterly performance in decades, according to Reuters.
The benchmark 10-year Treasury yield rose as high as 5.31%, its highest level since 2007, before easing to just below 5.28%. The yield climbed 87.1 basis points during the September quarter, marking its biggest quarterly increase since 1994, according to LSEG data cited by Reuters.
