an ongoing selloff in longerdated treasurys pushed the benchmark 10year yield closer to 4 on tuesday and past the april 2010 high reached in the prior session aggressive selling resumed in the longer end of the treasury yield curve on tuesday pushing up rates on 7 through 30year maturities selling of uk assets also resumed again after a savage slump friday and monday triggered broader market angst at the start of the week the yield on the 10year uk gilt bxtmbmkgb10y surged to a roughly 14year high on tuesday as investors worried that the british governments new taxcutting budget left the countrys finances on an unsustainable path meanwhile us 10year benchmark yields threatened to break above 4 for the first time in more than a decade amid sustained concerns about aggressive federal reserve interest rate hikes to combat inflation investors remain wary particularly as federal reserve speakers continue to stress the central bank will remain aggressive in its battle to tame inflation on tuesday chicago fed president charles evans gave a spirited defense of the feds interestrate projections saying rates may need to plateau next year markets are pricing in a 67 probability that the fed will raise interest rates by another 75 basis points to a range of 375 to 4 on nov 2 the central bank is mostly expected to take its fedfunds rate target to at least between 45 to 475 by march according to the cme fedwatch tool the feds shift over the past several months from a loose monetary policy to an increasingly tight one has contributed to delivering the first global bond bear market for over 70 years according to researchers at deutsche bank in data released tuesday us durable goods orders fell 02 in august mainly because of decline in bookings for large aircraft the us sp corelogic caseshiller 20city house price index fell a seasonally adjusted 04 in july the treasury will auction 44 billion of 5year notes later on tuesday what analysts are saying