Government bonds come under renewed pressure and US stocks slip

Government bond prices fell on Wednesday as investors on both sides of the Atlantic bet that central banks would act aggressively to combat inflation.

The yield on the 10-year US Treasury note rose 0.08 percentage points to 2.92 per cent, while the more policy-sensitive two-year note climbed 0.12 percentage points to 2.66 per cent. Yields rise when prices fall.

The moves followed stronger than forecast results from a closely watched…