May 9, 2018 / 7:24 AM / a year ago

U.S. 10-year Treasury yield hits 2-week high, tops 3 pct

LONDON, May 9 (Reuters) - A selloff in the U.S. Treasury market resumed on Wednesday, pushing the 10-year bond yield to a two-week high back above the key 3 percent level.

Analysts said expectations for higher interest rates continued to drive U.S. bond yields higher, overshadowing any fallout from the U.S. exit from the Iran nuclear deal for now.

The U.S. 10-year Treasury yield rose to as high as 3.01 percent in early European trade and was last up 4 basis points on the day.

Two-year Treasury yields climbed to 2.53 percent, their highest in almost a decade. (Reporting by Dhara Ranasinghe and Saikat Chatterjee; Editing by Tommy Wilkes)

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