Long-dated U.S. government bond yields neared their lowest for the year on Thursday as investors wagered that early rate hikes would curb future inflation, flattening the yield curve. Thirty-year Treasury yields hit 1.74% in late New York trade on Wednesday, their lowest since January. Meanwhile, two-year yields rose over 3 basis points (bps) on Thursday to 0.607%, not too far from their highest level since the pandemic of 0.6320%.

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