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On Tuesday morning the U.S. Treasury market saw a huge selloff, with the yield on the benchmark 10-year Treasury rising 5.9 basis points to 2.331%, the highest point since Nov. 21.
The intense selling was spurred by a similar meltdown in the eurozone’s
government bond market. It has been going on for more than two weeks
and continued on Tuesday.
On Tuesday the yield on the 10-year benchmark German bund jumped 12.3 basis points to
0.713%.
European peripherals, such as Spain, Italy and Portugal, also had their yields jump between 10 and 13 basis points.
