Inflation fears grip markets as bonds, stocks plunge

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By Saikat Chatterjee LONDON (Reuters) – Global stocks and government bonds extended a bruising sell-off on Monday and the dollar resumed its march towards two-decade highs as red-hot U.S. inflation fuelled worries about even more aggressive policy tightening in a big week for central banks. A market gauge measuring the gap between U.S. two-year Treasury yields and 10-year borrowing costs inverted on Monday for the first time since April, a phenomenon that often heralds economic recession. The latest sell-off in global bond markets came after a substantially higher-than-expected U.S. CPI print …

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