By Kevin Buckland
TOKYO (Reuters) – U.S. Treasury yields pushed to a near four-week peak on Wednesday, lifting their Asia-Pacific counterparts and the dollar while pressuring equities, as data sowed new doubts about the timing and extent of Federal Reserve rate cuts.
Crude oil rose for a fourth day to reach a four-week high amid speculation OPEC+ will maintain production cuts at a meeting this Sunday.
Benchmark U.S. 10-year yields ticked as high as 4.556% in Tokyo trading hours, a level not seen since May 3, following poorly received two- and five-year Treasury auctions overnight.
Equivalent Japanese yields hit the highest since December 2011 at 1.065%, while Australian yields jumped to a more than three-week top at 4.42%.
Investors were also caught off-guard by a sharp improvement in a U.S. consumer confidence measure for May. Economists had predicted a fourth straight month of weaker…
