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Story summary
- Federal Reserve (Fed) Chair Kevin Warsh’s hawkish speech boosted market expectations of a September rate hike to 66%.
- U.S. Treasury 10-year yield hovered at 4.7961% as bond sell-off accelerated.
- UK 10-year gilt yield rose to 5.223%, its highest level since June 2008.
- Japan 10-year government bond yield climbed above 3% for the first time in 30 years.
