World’s biggest bond markets hit by relentless selling ...Middle East

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World’s biggest bond markets hit by relentless selling
Euro, Hong Kong dollar, U.S. dollar, Japanese yen, pound and Chinese 100 yuan banknotes are seen in this picture illustration. REUTERS/Jason Lee/File photo LONDON  – An unrelenting selloff in world government bond markets pushed U.S. 30-year Treasury yields to 5 percent for the first time since 2007 and Germany’s 10-year borrowing costs to 3 percent on Wednesday, moves that could hasten a global economic slowdown. A growing sense that interest rates in major economies will stay higher for longer to contain inflation, ever resilient U.S. economic data and a sharp unwinding of traders’ positions for a bond rally have hit hard. In the U.S. Treasury market — considered the bedrock of the gl

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