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A wave of selling has brought US Treasury yields closer to their March highs, confirming predictions that a long summer rally would fade amid stubborn inflation and an imminent shift to tighter monetary policies.
Yields, which rise when bond prices fall, have been on an upward path since the Federal Reserve’s September 21-22 policy meeting. On Friday, a disappointing employment report in September briefly blocked the climb. But the 10-year yield closed the session at 1.604%, its highest closing level since June.
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