Treasury yields moved lower following the announcement, reversing part of a recent rise in long-term borrowing costs. The 10-year Treasury yield fell to about 4.65%, while the 30-year yield declined to about 5.20%. The 30-year yield had reached 5.337% on Tuesday, its highest level since 2007. Bond yields move inversely to prices, so stronger demand for government debt pushed yields lower. The retreat eased pressure that had accompanied the recent selloff in longer-term government bonds.