US borrowing costs hit highest level since 2007
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US government borrowing costs climbed to their highest level since 2007 after a jump in oil prices further fuelled concerns about inflation.
美国政府借贷成本攀升至2007年以来的最高水平，此前油价上涨进一步加剧了对通胀的担忧。
The effective interest rate on US government bonds over 10 years, known as the 10-year Treasury yield, rose as high as 5.04% but has eased back since.
10年期美国政府债券的有效利率，即10年期国债收益率，升幅高达5.04%，但此后有所回落。
Government bond yields have been rising globally for months, driven by worries that inflation caused by the oil price surge since the start of the US-Israel war with Iran will lead to higher interest rates.
几个月来，政府债券收益率在全球范围内一直在上升，原因是人们担心自美以战争开始以来油价飙升导致的通货膨胀将导致更高的利率。
The US has been buying back bonds back in a bid to drive the Treasury yield down, with Treasury Secretary Scott Bessent calling the intervention "successful".
美国一直在回购债券，以推动国债收益率下降，财政部长斯科特贝森特称干预"成功"。
The global benchmark wholesale oil price rose to over $109 a barrel on Tuesday, up from around $86 at the end of August, after renewed concerns about Saudi Arabia's ability to export oil following rising tensions in the region.
周二，全球基准批发石油价格从8月底的86美元左右上涨至每桶109美元以上，此前该地区紧张局势加剧，沙特出口石油的能力再次受到担忧。
Investors are anticipating the US Federal Reserve Chair Kevin Warsh will raise interest rates to combat the inflation caused by higher oil prices.
投资者预计美联储主席凯文*沃什将提高利率，以对抗油价上涨带来的通货膨胀。
However, US President Donald Trump opposes a rate hike, having long argued lower rates are great for boosting the economy.
然而，美国总统唐纳德*特朗普（Donald Trump）反对加息，长期以来一直认为低利率对提振经济很有帮助。
He fell out with Warsh's predecessor Jerome Powell over his decision not to cut rates.
他与Warsh的前任杰罗姆*鲍威尔（Jerome Powell）就不降息的决定闹翻了。
Higher interest rates and inflation tend to drive up the yields bond investors demand on government borrowing.
较高的利率和通货膨胀往往会推高债券投资者对政府借款的要求。
Bond yields can also be a sign of how much faith investors have in a given government, with a higher yield reflecting less confidence.
债券收益率也可以表明投资者对某一特定政府有多大信心，收益率越高，信心越低。
Competition for debt from artificial intelligence (AI) firms is also driving up yields.
人工智能（AI）公司的债务竞争也在推动收益率上升。
Tech giants are borrowing massive piles of cash to build huge data centres. This raises interest rates on tech firm's debt which increases government bond yields in response.
科技巨头正在借用大量现金来建立庞大的数据中心。 这提高了科技公司债务的利率，从而提高了政府债券收益率。
Carol Schleif, chief market strategist at BMO Wealth Management, said bond markets had been signalling for weeks that higher interest rates may be needed.
BMO财富管理公司(BMO Wealth Management)首席市场策略师卡罗尔?施莱夫(Carol Schleif)表示，债券市场数周以来一直在发出可能需要提高利率的信号。
While the rise in borrowing costs has been "orderly" this year, rather than sudden, she said rates could remain elevated if geopolitical tensions and high energy prices remain "front and center".
虽然今年借贷成本的上涨是"有序的"，而不是突然的，但她表示，如果地缘政治紧张局势和高能源价格保持"前沿和中心"，利率可能会保持高位。
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卫星图像揭示了关闭沙特重要输油管道的重大破坏 费萨尔*伊斯兰：为什么债券市场的野火让世界领导人夜不能寐
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