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The benchmark 10-year yield, which was last at 4.9813%, has climbed some 35 basis points this week, driven by rising expectations that the Federal Reserve is likely to keep interest rates higher for longer and mounting U.S. fiscal concerns.
KUALA LUMPUR: With no sign of de-escalation in the Middle East conflict, the ringgit came under pressure to open lower against the US dollar on Friday.
Hiljanen said rates were likely to push higher from here, although could be dragged down by safe-haven buying if the Israel-Hamas war widens into a broader conflict.
Asian equities followed Wall Street lower overnight except for Taiwan, which pulled a James Bond +0.07%
Long-dated Treasury yields hit fresh 16-year highs earlier Wednesday, with the 10-year rate topping 4.9% and the 30-year rate surpassing 5%.