10-year Treasury note yield hits highest level since 2002 as traders brace for key bond sale

U.S. Treasury yields climbed Wednesday, trading back around multiyear highs, as traders braced for the sale of 10-year notes at a time when rising yields have rattled investors around the world. The benchmark 10-year Treasury was up nearly 8 basis points at 5.35% — its highest level since 2002. The 30-year Treasury bond rose 8.3 basis points to 5.724%, also reaching a 24-year high. The 2-year Treasury note yield was up 2.7 basis points to 4.818%. One basis point equals 0.01%, and yields and prices move in opposite directions. The Treasury plans to sell $39 billion of 10-year notes in...