A selloff in U.S. government bonds that pushed yields to the highest levels since March petered out almost as quickly as it started, a sign economic pessimism and aggressive monetary stimulus remain powerful forces suppressing longer-term interest rates. The yield on the benchmark 10-year U.S. Treasury note dropped back below 0.7% Thursday, after mounting coronavirus cases upended investors’ hopes for a return to economic normalcy. The move followed another steep decline Wednesday, after the Federal Reserve said it had no...

Source: Wall Street Journal June 12, 2020 11:03 UTC