Yields on major sovereign bonds jumped on Thursday, with the US 30-year Treasury climbing above 5% for the first time since 2007 and the two-year note touching 3.934% after stronger-than-expected economic data. The benchmark 10-year yield edged up to 4.469%. Investors cited the prospect of additional fiscal stimulus and tax cuts in Washington for adding to concerns over the supply of new debt. The sell-off spread to the UK market. Two-year gilt yields advanced to 3.912%, their highest level this month, after mixed labour-market figures, while five-year yields reached 4.093%, a peak not seen since mid-June. Thirty-year gilts breached 5.5%, the highest since 1998, highlighting the sharp rise in the government’s long-term borrowing costs. Despite the move higher in yields, fresh Treasury Department data showed overseas demand for US securities remained solid in May. Foreign holdings of Treasuries increased by $32.4 billion to $9.05 trillion, the second-largest total on record. Net long-term capital inflows rebounded to $259.4 billion, with total net inflows at $311.1 billion, led by a jump in Canadian purchases.