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US doubles debt buyback to stabilise bond market amid inflation fears
The US Treasury is doubling its buyback of government debt to help stabilise the bond market as Federal Reserve officials remain divided on how to tackle high inflation. Yields on 10-, 20- and 30-year treasuries all hit 20-year highs this week, with the 30-year yield reaching its highest level since 2007. The surge is alarming for borrowers, as major loans including mortgages are tied to treasury rates.
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