Investors shed government bonds around the world, propelling borrowing costs to multi-year highs from Japan to the US amid intensifying fears that war-driven inflation will force central banks to pursue higher interest rates. Inflation is the overwhelming risk facing the economy, Fed Governor Michael Barr said on Thursday. The comments followed data this week that showed producer costs accelerating at the fastest pace since 2022. Traders are pricing in an almost two-thirds chance the Fed will

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