Treasury Yields Rise on Bet That Recovery Will Last Longer

U.S. government-bond yields have staged a major rebound this month, reflecting increased optimism among investors about the near-term economic outlook.

Yields, which rise when bond prices fall, remain below their peaks set in June, when investors were most concerned about runaway inflation. But they are also now well above their recent lows, when analysts were hotly debating whether the U.S. was already in, or entering, a recession.