10-, 30-year Treasury yields on track to establish fresh 16- and 12-year highs

An aggressive selloff of long-term Treasurys resumed on Monday, sending the 10- and 30-year yields on their way toward establishing new 16- and 12-year highs, respectively. The benchmark 10-year rate was briefly up 9.2 basis points and touched 4.53% in morning trading, which would leave it on pace for its highest closing level since Oct. 17, 2007. Meanwhile, its 30-year counterpart was briefly up by 11.7 basis points and touched 4.638% — heading for its highest level since March 8, 2011. The move comes days after the Federal Reserve reiterated a higher-for-longer message on interest rates.