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The following are five major themes that will likely dominate the thinking of investors and traders in the coming week:Inflation worries and rising federal borrowing have helped lift U.S. 10-year yields above 3 percent for the first time in over four years, while two-year notes are yielding 2.50 percent, a level last seen during the 2008 crisis.Fed tightening could lift two-year yields to, say, 2.75 percent by year-end, especially if it hikes more aggressively than markets expect.If next week's data confirms that, the ECB will have all the more reason not to rush stimulus withdrawal, which means bond yields and the euro could drop.It's been a bruising week for emerging markets, which are being roiled by the simultaneous rise of the dollar and U.S. 10-year bond yields – the latter above 3 percent for the first time in over four years.So when U.S. 10-year yields rose above 3 percent this week, concerned clients called analysts asking what this meant for consumer staples stocks.
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