BUSINESSSEMAFOR
Bond markets flinch at Fed’s non-guidance
US long-term borrowing costs reached their highest level since 2007 as investors reacted to Federal Reserve Chairman Kevin Warsh's reduced guidance strategy. Yields on 30-year Treasury bonds hit 5.24% after the Fed meeting, leading to market declines in stocks and the dollar, which Bank of America described as a 'central-bank credibility shock.'
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