Yields on the US Treasury's longest-dated bond rose to the highest level in almost two decades as investor concern over accelerating inflation fueled a selloff in global debt markets.
The move represents a new high-water mark after a recent bond selloff pushed government yields around the globe to multiyear highs.
Joe LaVorgna, Chief Economist at SMBC Nikko Securities, discusses the impact of higher inflation on rates, the US consumer, and President Trump's economic agenda.
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