The 30-year U.S. Treasury yields were nearing the 5% level again after better-than-expected labor market data, said Danske Bank Research’s Jesper Fjaerstedt in a note.
Data Tuesday showed a rise in the rate of U.S. hiring in April to 3.5%, from 3.4% in March.
Danske Bank Research expects the yield to rise above 5% as investors require a higher premium in anticipation of the Senate’s approval of President Trump’s budget bill, the senior analyst said.