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Story summary
- Treasurer Jim Chalmers warned that rising global bond yields will add billions of dollars to the budget’s interest bill.
- The 10-year Australian government bond yield jumped about half a percentage point to 5.3 percent.
- Shadow Treasurer Tim Wilson accused the Albanese government of relying on debt to fund populist spending.
- Economist Chris Richardson linked the rate shift to trust deficits, U.S. debt concerns and President Donald Trump’s $5,000 voter pledge.