US Treasuries Draw Buyers After Selloff as Oil Surge Stalls

Treasuries rose as the recent surge in oil prices stalled and bond investors were drawn to 30-year yields that topped 5% for the first time this year.

Benchmark yields — which earlier climbed to the highest levels in at least several weeks as global benchmark Brent crude oil reached a four-year high — were lower by two to seven basis points after 4 p.m. in New York. Short-maturity yields declined the most. The 30-year yield was back to 4.98%.