Long-dated sovereign bond yields advanced across major markets on Tuesday, extending a global sell-off in government debt as investors rotated out of haven assets and braced for fresh U.S. inflation data. In China, the 30-year government bond yield rose one basis point to 2.01%, its highest level since 1 April. The move followed President Donald Trump’s decision to prolong a 90-day tariff truce with Beijing, which has lifted hopes for improved trade relations and encouraged a shift into riskier assets. European markets echoed the trend. Germany’s 30-year Bund yield touched 3.3%, the highest since 2011, while the U.K.’s 30-year gilt yield jumped nine basis points to 5.48% as longer-dated gilts and other European bonds extended losses. In the United States, the yield curve steepened, with 10- and 30-year Treasury yields reaching session highs and the 10-year hovering near 4.30%. The two-year yield eased 1.9 basis points to 3.735% as traders positioned ahead of July consumer-price figures, which economists expect to show core inflation running at 3.1% year on year. Strategists said the combination of improving trade sentiment, Beijing’s efforts to counter deflation and caution ahead of the U.S. CPI release has pared demand for long-duration government debt, driving yields higher worldwide.