The 10-year US Treasury yield hit 5.34%, its highest since 2002. The 30-year touch was 5.69%, a 24-year high. Strategists at International Netherlands Group (ING) say about one-fifth of the recent rise in long-dated yields traces back to AI. And most of that isn't about debt.

But inflation and fiscal deficits are still the main factors, according to analysts at ING who commented on Thursday. Then comes the AI factor, accounting for about........

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