EconomyInvestors Are Driving Government Bond Yields Higher

A renewed oil-price surge intensified a bond selloff, pushing US Treasury and UK gilt yields to multiyear highs. US stock futures gave up gains of as much as 0.7% tied to an upbeat Micron forecast, while the 10-year Treasury yield reached its highest level since 2002 and 30-year UK gilt yields topped 6% for the first time since 1998.