Demand Weakens for Long-Term US Treasuries as Yields Hit 2002 Highs

Demand for long-term US government bonds is weakening as yields climb to their highest levels since 2002.
Investors have been on a "buyers' strike" for 10- to 30-year Treasuries since late June, according to CNBC. In one Treasury buyback, holders offered $36 billion of bonds for sale while the government sought just $2 billion.
The Treasury subsequently tripled its buybacks to as much as $6 billion, but yields continued rising. The 10-year Treasury yield reached 5.34% this week.