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The relentless sell-off in government bonds worldwide remained the dominant force in financial markets last week.

The steady grind higher in bond yields worldwide continues to be the central development for financial markets.

The Federal Reserve's September meeting delivered an interest rate hike and unmistakably hawkish message last week, making it clear that the central bank is squarely focused on bringing down inflation.

August inflation data out of the US did nothing to allay fears that the Fed's inflation target is still out of reach, triggering investors to price in a near certainty of a hike this week.