(Bloomberg) — The selloff in US Treasuries extended into a third straight day, with 30-year yields touching 5% for the first time since 2007 and sending global financial markets into a tailspin.
Most Read from Bloomberg
As conviction grew that US interest rates could rise further from current 22-year highs, 10-year Treasury yields also climbed closer to the key 5% threshold. That pushed the MSCI all-country equity index into a fourth day of declines and to the lowest since May. European stocks erased early losses to trade little changed and US index futures were slightly lower after the S&P 500 index dropped to a four-month low Tuesday.
The latest leg of the selloff has been fueled by Tuesday’s better-than-expected US job data, as well as a slew of hawkish comments from Federal Reserve officials. Markets are pricing a one-in-three chance of a November hike and see a more than 50%…
