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Story summary
- U.S. Treasury yields rose to 5.34%, the highest since 2002.
- United Kingdom's 30-year government bond yield climbed above 6%, its highest level since 1998.
- Traders now expect at least three more Federal Reserve rate hikes before mid-2027 after the latest increase.
- Institute of International Finance estimated advanced economies paid over $3.3 trillion in interest on traded government bonds last year.
