Long-term US borrowing costs climbed to levels not seen since before the global financial crisis after the Treasury auctioned $25bn (€21.3bn) in 30-year bonds at a high yield of 5.058% on Wednesday, according to the department's own data. The sale came only hours after the US Senate voted to confirm former Federal Reserve governor Kevin Warsh as the next chairman, succeeding Jerome Powell. The auction result immediately complicated the backdrop for Warsh's arrival at the central bank, underlining the pressure facing policymakers as inflation is rising. At the time of writing on Thursday, US 30-year bonds are trading ... (full story)