Treasury yields climb to highest in a week after Bank of England delivers second hike, ECB’s Lagarde sees upside inflation risks

Yields on U.S. government debt advanced to their highest levels in a week Thursday after the Bank of England delivered its second consecutive rate increase and European Central Bank President Christine Lagarde said inflation risks in the eurozone are “tilted to the upside” relative to December.

The selloff in Treasurys, which pushed yields higher, partially reversed Wednesday’s buying action — leaving 10- and 30-year yields not far from where they were on Tuesday. Meanwhile, Wall Street and Washington are bracing for the worst U.S. jobs report in more than a year on Friday.