Bond Report: U.S. government bond yields jump as inflation expectations rise to 3½-year high

Long-dated Treasury yields early Thursday traded at their highest levels in nearly a month, but shorter maturities saw a slight pullback in rates, as inflation expectations rose to the highest level in about three years.

How are Treasurys performing?

The benchmark 10-year Treasury note yield TMUBMUSD10Y, +1.55% rose 4.5 basis points to 2.912%, after yields surged by the most in a day since Feb. 14 late Wednesday. The benchmark note was hanging around its highest yield level since March 21, according to Tradeweb data.

The 2-year note yield TMUBMUSD02Y, +0.18% shed 0.5 basis point to 2.432%, and has been hovering around its highest level since 2008, with late-Wednesday trade also representing its largest daily yield climb in about nine weeks.

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