(Bloomberg) -- Treasury 10-year yields extended their steepest monthly increase in almost 20 years to top 4% as elevated inflation and rapid central bank tightening drive a global bond rout.
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The benchmark yield rose as much as six basis points to just above 4% on Wednesday, a level last seen in April 2010. The rate has climbed 80 basis points this month, the most since an 89-basis-point surge in July 2003.
Treasuries have lost 14% this year, according to the Bloomberg Global Agg Treasuries Total Return Index. That's more than double any previous annual slump for the gauge.
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