US Treasuries Post First Monthly Loss of 2025 on Deficit Woes

US Treasuries are delivering their first monthly loss this year, buffeted by renewed tariff uncertainty and growing anxiety over mounting levels of government debt.

A Bloomberg index that tracks the bonds was down more than 1.2% in May through Thursday’s close after all maturities came under pressure. The 30-year yield rose for a third consecutive month, its longest losing streak since 2023, while yields on two- and 10-year tenors posted their first monthly increases of this year.

The poor monthly performance reflects the growing headwinds Treasuries face as the US administration’s unpredictable policies shake investor confidence. May saw a resurgence ...