US long-term borrowing costs rise to 25-year high, as inflation fears hit bond sale – business live

Rolling coverage of the latest and economic news, as US sells 30-year bonds at highest borrowing costs since 2001

Concern abour rising US borrowing costs was one reason Washington worked with Tokyo to prop up the Japanese yen earlier this month.

The US was concerned that Japan’s government might sell some of its holding of Treasury bonds in an attempt to stabilize its currency, so took part in a joint intervention to strenthen the yen instead.

“They have to fund the government at more expensive levels.”