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Fed Governor Barr says more rate hikes are 'likely' needed. Treasury yields reach new 19-year highs.
The yield on the benchmark 10-year Treasury reached 5.104%, the highest level since July 2007.
Markets now see a 71% chance of an October rate increase after Barr's comments and surging business activity data ...
S&P Global said its overall inflation measure hit its highest level since October 2022.
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