Longer-term U.S. Treasury yields rose again Wednesday, with the 10-year yield approaching 4.6% and the [30-year rate surging above 5%](

The downgrade of the country’s credit rating by Moody’s hurt investor confidence. So has trade policy, and ballooning federal debt.

The Treasury plans to auction $16 billion of 20-year bonds, with results due just after 1 p.m. Eastern. The offering will mark the first auction of longer-duration Treasury bonds since Moody’s on Friday became the third and final rating agency to strip the U.S. of its top Triple-A credit rating.

Yields were slightly lower after stabilizing in the previous session, after Trump’s tax bill was passed by the U.S. House of Representatives.

The market’s latest “most important event of all time” came and went on Wednesday, triggering a sharp pullback in U.S. stocks, a spike in Treasury bond yields, and a fresh round of angst among global investors.

An earlier rise for long-term Treasury notes followed Moody’s downgrade of the U.S. credit rating, raising national debt concerns.

Investors have focused this week on a selloff in the Treasury market. But it hasn't affected all Treasurys. Short-term debts, like the 2-year note, have been stable. Only longer-term instruments, like the 10-year note and 30-year bond,