Treasury yields rebound, wiping out the decline following Bessent’s intervention

Bond yields climbed Thursday, erasing most of the pullback they saw the previous day after the Treasury Department announced an intervention aimed at easing pressure on longer-dated government debt. The yield on the 30-year U.S. Treasury bond — the primary focus of the accelerated buyback — was up more than 4 basis points at 5.236%. Yields on 10-year U.S. Treasurys — the main benchmark for mortgages, auto loans and credit card debt — moved more than 4 basis points higher to 4.696%. The 10- and 30-year yield levels were right around the level they held before the 8:30 a.m. announcement...