Government bonds were under pressure on Wednesday as traders expected that the world’s most influential central banks would extend their aggressive rate rises to combat soaring inflation.
The yield on the 10-year US Treasury note, which underpins debt pricing worldwide, added 0.05 percentage points to 2.79 per cent, up sharply from the level of about 2.5 per cent the previous day.
The two-year Treasury yield, which tracks interest rate expectations, has risen steadily through the week and hit 3.1 per cent.
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