U.S. Treasury yields fell on Wednesday, recovering some ground after heavy selling pressure the previous session. The 30-year Treasury bond ended 4 basis points lower at 5.553%, after rising to its highest level since 2002. The 10-year and 2-year yields also declined to 5.221% and 4.876% respectively. Investors are concerned about inflation, government debt and tighter monetary policy, as high oil prices driven by the Middle East conflict lift inflation expectations. Traders are now pricing in a 45% chance of another Fed rate hike at its next meeting in October.
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