The rally in U.S. long-term Treasuries stalled as a rebound in global stocks weakened demand for safe-haven assets.

Long-dated U.S. Treasuries fell as a global equity rally eroded the appeal of haven assets, while comments from Federal Reserve Chairman Kevin Warsh did little to alter the interest-rate outlook. The decline at one point pushed yields on 10- to 30-year Treasuries more than 5 basis points higher, but the move was pared after the U.S. stock market opened at 9:30 a.m. in New York and large technology companies' shares moved lower. Short-dated Treasury yields also erased their gains after the stock market opened. Treasury yields had touched multiweek lows on Thursday, with the advance also supported by market expectations that the U.S. government may cut supply of its longest-dated bonds starting next month. A survey due at noon Washington time may address that possibility. Meanwhile, the market still expects the Fed to keep rates unchanged at its meeting at the end of this month and to raise rates in December. On Friday morning, Warsh did not discuss monetary policy or his outlook for the U.S. economy during a panel discussion at the International Monetary Fund's annual meetings in Bangkok. With a lack of fresh guidance, Treasury moves were dominated by global risk appetite, which showed a modest improvement on Friday. That marked a reversal from the previous day's sentiment, when a sharp selloff in artificial-intelligence-related stocks drove investors to buy Treasuries as a haven.