A look at the day ahead in European and global markets from Gregor Stuart Hunter Government borrowing costs are rising to levels not seen in decades as the conflict in the Middle East worsens and investors fear the effect on inflation. The yield on the 30-year Treasury bond hit its highest level since June 2007 on Tuesday, reaching an intraday high of 5.321%, as soft economic data prompted more traders to bet the Federal Reserve will refrain from hiking interest rates to curb inflation.