The benchmark U.S. 10-year Treasury yield (US10Y) hit a two-month high on Friday, amid a bruising bond selloff in longer-term maturities this week. 

The US10Y surged as much as 19 basis points to hit a session peak at 4.58%, its highest level since February 12. It was last up to 4.51%.

Meanwhile, the U.S. 20-year Treasury yield (US20Y) was up 10 basis points to 5.00%, and the 30-year yield (US30Y) was up 7 basis points to 4.94%.  

Traditionally, yields fall as investors seek safety by buying bonds during equity market stress. However, that traditional safe-haven role has been called into question amid this week's broader bond selloff. 

A Minneapolis Fed official in a CNBC interview said that rising yields and a falling dollar (DXY) show investors moving on from the U.S.. 

“This is not what one usually sees with regard to the dollar and rates. Damages are real. An appreciating currency amplifies tariff inflation & economic weakness,” Diane Swonk, chief economist of KPMG said. 

Many analysts attribute the trend to the unwinding of complex trading strategies like the basis trade, along with foreign investors reducing U.S. bond holdings. 

See how yields are trading across the curve here on Seeking Alpha’s bond page. 

Fixed Income Tracking ETFs: (NASDAQ:TLT), (NYSEARCA:TLH), (NASDAQ:IEF), (NASDAQ:IEI), (NASDAQ:SHY), (NYSEARCA:SGOV), (NYSEARCA:SCHO), (NYSEARCA:BIL), (NYSEARCA:AGG), (NASDAQ:BND), (NASDAQ:VCIT), (NYSEARCA:MUB), (NASDAQ:MBB), (NYSEARCA:JNK), (NYSEARCA:LQD), (NYSEARCA:HYG), and (NYSEARCA:TIP).