US Treasury Yields Drop After Strong 10-Year Auction, Following Earlier Selloff

U.S. Treasury yields declined in the final hour of trading after a strong 10-year Treasury auction, easing some upward pressure on borrowing costs. This followed an earlier bond market selloff that had pushed long-dated US yields to 24-year highs, with the 10-year note yield reaching 5.345% and the 30-year bond yield hitting 5.724%.