U.S. Treasury yields retreated slightly to end a volatile week, as central banks around the world signaled a more aggressive effort to curtail rising inflation.
The Federal Reserve on Wednesday increased its benchmark funds rate by 75 basis points, the largest hike since 1994, with annual U.S. inflation running at a 40-year high of 8.6% in May.
The Swiss National Bank then surprised markets with its first rate hike for 15 years on Thursday, while the Bank of England implemented its fifth consecutive hike. U.S. Treasury yields pulled back slightly on Friday to end a volatile week, as central banks around the world signaled a more aggressive effort to curtail soaring inflation.
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