HONG KONG/LONDON—U.S Treasury yields were heading back towards 5 percent on Thursday, dragging shares around the world to multi-month lows in the middle of a busy week for corporate earnings, with an ECB meeting and the release of U.S. GDP to come later in the day.
A rebound in U.S. home sales and an auction of five-year notes that showed weak demand were the latest trigger for concern in the bond market, which saw the U.S. 10 year Treasury yield rise 11 basis points on Wednesday.
