US yields rise as government ratchets up borrowing

NEW YORK: US Treasury yields climbed to fresh session highs on Wednesday after the government said it intends to increase its borrowing from the bond market in the coming quarter to fund its spending and debt obligations.

The yield on benchmark 10-year Treasury notes hit 3 percent for the first time since June 13, according to Reuters data. At 8:39 a.m. (1239 GMT), the 10-year yield was 2.997 percent, up 3.3 basis points from late on Tuesday.