TREASURIES-Long-dated Treasury yields hit multi-month highs after tax bill passes House

LONDON, May 22 (Reuters) - The 30-year Treasury yield hit a new 19-month high on Thursday, and was a few basis points from its highest since 2007, after the House of Representatives passed a tax and spending bill that reinforced market worries about the United States' debt burden.

Investors were also processing the previous day's soft demand for a sale of 20-year bonds and Moody's downgrade of the U.S. credit rating last week, both reflecting growing nervousness in markets.

The 30-year Treasury yield rose as much as 4.5 basis points on the day to 5.134%. It is closing in on October 2023's 5.179%, a break past which would take it to its highest since mid-2007. US30YT=RR

It hit the new high after the House passed the Bill which will add about $3.8 trillion to the federal government's $36.2 trillion debt over the next decade, according to the nonpartisan Congressional Budget Office.

"With the U.S. tax bill making its way through the House, scrutiny of the country’s fiscal trajectory will remain a headwind for long end rates, with weaker auction results only providing occasions to push rates higher," said Benjamin Schroeder, senior rates strategist at ING in a note.

Other longer-dated yields also rose, the U.S. 20-year yield hit 5.149%, its highest since November 2023, and the benchmark 10-year yield rose 2 bps to 4.62%, its highest since mid- February. US20YT=RR, US10YT=RR

The U.S. is at the centre of a sell-off in global government bonds, but is not alone. Longer-dated yields are also rising in Japan, the euro zone and Britain. JP/ GVD/EUR GB/