U.S. Treasury yields ease after 30-year yield hits highest level since 2002

U.S. Treasury yields declined on Wednesday, pulling back from heavy selloffs driven by inflation and government debt concerns. The 30-year bond yield dropped 4 basis points to 5.553% after hitting its highest level since 2002, while traders price in a 45% chance of a Federal Reserve rate hike in October amid Middle East conflict and high oil prices.