US 30-Year Treasury Yields Hit 24-Year High on Strong Spending

Long-dated US Treasury yields climbed to fresh multi-decade highs as resilient consumer spending signalled the economy can withstand higher interest rates. Thirty-year yields rose as much as six basis points to 5.63%, the highest since 2002, after August spending grew at its fastest pace in over a year. The Treasury also announced plans to buy back up to $6 billion in long-term debt.