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Treasury 10-Year Yield falls below 3% as Recession fears Mount

Treasuries began the second half of the year on the front foot Friday as concerns continued to mount that Federal Reserve rate hikes will lead to a recession. Benchmark 10-year yields fell six basis points to 2.95% in a fourth day of declines and looked set for their biggest weekly drop in seven weeks. The move spread to other markets with Australia’s three-year bond yields tumbling 21 basis points, just days before its central bank is expected to announce a half-point rate increase. [...]