 "10-year yield on US Treasury notes breaches 4% mark after 12 yrs")
Yields on 10-year US Treasury notes reversed sharply lower after touching the highest since October 2008 as the Bank of England (BoE) said it would carry out temporary purchases of long-dated UK bonds to help restore order to the market.
The benchmark US 10-year yield was little changed at 3.945 per cent after earlier climbing to 4.015 per cent. But Treasuries remain headed for their biggest annual loss since 1973, with a Bloomberg gauge of the debt slumping 14 per cent this year.
UK 30-year borrowing costs slumped as much as 72 basis points to 4.26 per cent, having surged to the highest since 1998 before the BoE signalled its intention.
The benchmark US 10-year yield was little changed at 3.945 per cent after earlier climbing to 4.015 per cent. But Treasuries remain headed for their biggest annual loss since 1973, with a Bloomberg gauge of the debt slumping 14 per cent this year.
UK 30-year borrowing costs slumped as much as 72 basis points to 4.26 per cent, having surged to the highest since 1998 before the BoE signalled its intention.
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