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Trump is facing a new inflation warning from the bond market, adding to his midterm challenges
The world is getting more uptight about lending money to President Donald Trump´s government - causing interest rates to climb in ways that are worsening affordability pressures, hampering economic growth and creating a new risk for Republicans in November´s midterm elections. The energy price spike triggered by the Iran war has seeped into the price of bonds that help fund the U.S. government. Interest rates on a 10-year U.S. Treasury note are topping 4.44%, up from 3.95% before the war started at the end of February. Average mortgage rates have climbed to their highest levels in nine months, while auto sales are slumping. [...]