US Treasuries sank, adding to the downdraft, with yields pushing up across the curve as at least 40 businesses tapped high-grade markets around the world Tuesday.
Meanwhile, the greenback remained elevated a US yields advanced, with the 10-year maturity approaching 4.3%. The surge in corporate debt issuance followed a seasonal slowdown and the recent rise in Treasury rates. About half of the corporate deals — or over $36 billion of new bonds — were sold in the US.
The yuan is also likely to be in focus as China tries to address its slide amid broad concerns over the nation’s economic health.
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