US borrowing costs rise as attempts to ease rates prove short-lived
Economists said there were ongoing concerns over the level of borrowing as national debt passed $40tn.
US borrowing costs increased despite the government's attempt to lower them through intervention, according to the SOURCE. The Treasury Department announced it would buy back more debt to ease rates for investors on global bond markets. While short-term rates did ease after the intervention, they have since risen again. Economists noted that the government's move proved short-lived, with concerns over national debt and inflation persisting.
The 30-year bond interest rate rose to around 5.27%, indicating the temporary nature of the rate decrease.
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