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U.S. government bond yields extended recent gains Wednesday, with mounting evidence that the Federal Reserve is planning to rapidly raise interest rates and reduce its bondholdings lifting the 10-year Treasury yield above 2.6%.

Yields, which rise when bond prices fall, have been climbing for most of the year but have taken another big leg up this week based on speeches from Fed officials and minutes from the central bank’s March 15-16 meeting.

Source: WSJ

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