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Goldman Sachs' Kaplan: Fed likely needs only one more rate hike

U.S. Treasury yield breaks through 5.5%, Hong Kong Exchange welcomes new ETF listing

Wall Street spent another week watching yields hit multi-decade highs, oil hold above $100, and the case for tighter Federal Reserve policy harden. Once again, risk assets refused to break.

Federal Reserve Bank of Cleveland President Beth Hammack said long-term Treasury yields are being driven higher by a stronger growth outlook, concerns about government debt, and expectations for more interest-rate increases.