Investor appetite for U.S. government debt continued to hold up on Thursday, as demonstrated by the results of a $22 billion auction of 30-year Treasury bonds that came just one day after a shockingly strong $39 billion 10-year Treasury auction.

The yield on the U.S. 10-year Treasury note surged above 4.5% Friday as bonds sold off this week, after briefly falling below 3.9% on April 4. Bond yields and prices move inversel

Bond investors have been trying to figure out how much money to pour into the safety of U.S. government bonds and whether those bonds are actually all that safe anymore. Meanwhile, the Treasury Department has been holding auctions to sell new government bonds to investors,