Government bond markets, which have enjoyed a summer of solid price gains, now face a reckoning with their bets for speedy central bank rate cuts and slowing inflation, not to mention a tight U.S. presidential election. Benchmark 10-year U.S. Treasury yields are set to end August down nearly 30 bps, their biggest monthly drop this year, driven by expectations for speedier rate cuts - even as economic data has eased the recessionary fears sparked by the last U.S. jobs report. With borrowing

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