Financial Times –Surge in US bond yields sparks concern
When the U.S. Treasury offered $19 billion in bonds on Wednesday, world markets shrugged and demanded dramatically higher interest rates.
The threat of massive inflation has investors demanding more return to stay ahead of what they believe will be the declining value of the dollar. The Wall Street Journal, meanwhile, reports that Brazil and Russia are preparing to dump billions in U.S. bonds, which they will convert into IMF notes. That will weaken the market and likely force the U.S. to pay even more to borrow money.
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