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US Treasury yields hit 2007 high
The yield on the 10-year U.S. Treasury bonds has risen to 5.04%, its highest level since 2007. There are also expectations of a 92% chance of the Federal Reserve raising interest rates at the upcoming meeting. This comes amid concerns about the impact of rising oil prices on inflation and the increasing U.S. government debt, which has surpassed $40 trillion. This rise in yields reflects growing bond sell-offs and leads to higher borrowing costs, with fears mounting of a future financial crisis resulting from declining bond values and the spike in yields.
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