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U.S. Treasury Yield Reaches Highest Level Since 2002
The U.S. Treasury is selling bonds, causing the 30-year yield to rise to 5.595%, the highest level since 2002. This is driven by inflationary pressure from high energy prices, increased corporate bond issuances, and concerns about public debt. Global government bonds have weakened due to higher oil prices and the Middle East conflict, prompting investors to expect more rate hikes from central banks, including the Federal Reserve.