LONDON, Sept 23 (Reuters) – Long-dated US borrowing costs climbed to their highest level in more than 20 years on Thursday as the months-long selloff in bond markets gathered pace.
The yield on the 30-year US Treasury bond climbed more than 3 basis points to 5.444%, its highest since 2004, as prices fell.
US and global yields jumped on Wednesday after data pointed to strong US growth and rising inflation pressures, causing traders to increase their bets on Federal Reserve rate hikes.
Bonds around the world have been under pressure for months as the U.S.-Israeli war on Iran has pushed up energy prices, growth has proved resilient and investors have fretted about high levels of government debt.
(Reporting by Harry Robertson; Editing by Amanda Cooper)
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