Inflation jitters throw a wrench into US Treasury auction as Fed official flags jumbo hike

The latest auction of the 10-year US Treasury drew weak demand from investors after a hot reading on inflation and the prospect of an aggressive rate increase flagged by a Federal Reserve official spurred the most violent bond sell-offs in months. It may also further validate China’s de-dollarisation push to promote the internationalisation of its currency. The batch of the US$42 billion Treasury