US 30-Year Yield Tops 5% as Traders Pare Bets on Rate Cuts

US Treasuries slumped, pushing the 30-year yield above 5% for the first time since June, as traders focused on the potential for tariff-driven inflation to push back Federal Reserve interest-rate cuts.

Bonds fell across maturities Tuesday, led by short-dated securities that are more sensitive to changes in monetary policy. Yields reached the highest levels in several weeks.

The selloff was sparked by the release of the June consumer price index. The data showed a smaller-than-estimated increase in prices excluding food and energy. But it contained elements suggesting that the inflation gauge targeted by the Fed — to be released at ...