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Government bond yields across the U.S. and other advanced economies have climbed to multidecade highs, with investors awaiting key U.S. inflation data.
Federal Reserve Governor Christopher Waller said Tuesday that rising long-term U.S. Treasury yields are affecting interest-sensitive sectors such as housing and automobiles, effectively doing some of the work of tighter monetary policy.
Fed's Waller says higher Treasury yields are helping restrain demand, but AI investment could sustain inflation pressures for another two to three years.