Treasuries Slump Anew, Producing New High Yields

The nightmare continues in the Treasury market.

Prices slumped again, lifting yields on most benchmarks to new highs for the year, even as stock prices sagged. Lately, trouble in the stock market has benefited Treasuries as investors shift money from one asset class to the other.

It's possible -- some say likely -- that without the selloff in stocks, the selloff in bonds would have been even worse. The benchmark 30-year Treasury bond ended the day down just 9/32 at 96 29/32, lifting its yield 2 basis points to 6.36%. Shorter-maturity note yields were unchanged to 2 basis points higher. ...