A sell-off in Treasuries continued overnight before paring losses, with long-term yields pushed to highs unseen since the global financial crisis. A growing sense that interest rates in major economies will stay higher for longer to contain inflation, resilient U.S. economic data and a sharp unwinding of traders' positions for a bond rally were among the drivers for the sharp move lower. JP Morgan analyst Sin Beng Ong in a note on the pressure it was putting on emerging Asia markets.