US government borrowing costs have clocked up their longest run of increases since 1984 as the prospect of more rate hikes drove another wild day on global markets. Yields on the ten-year bonds – which move inversely to their prices – have climbed for 12 weeks in a row as US central bank, the Federal Reserve, battles to bring down rampant inflation. The milestone came despite a reversal late in yesterday's session as bond yields slipped back on a hint that the Fed may soon be ready to take their foot off the gas.
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