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Another spike in Treasury bond yields puts lawmakers in a tricky spot as they push for big cuts that could drastically swell America’s debt pile.

President Trump is trying to drum up Republican support for a megabill that’s roiling the bond market.Haiyun Jiang for The New York TimesGaming out the costs of a megabill

Investors in American government debt are getting antsy. The yield on the 30-year Treasury bond passed 5 percent on Wednesday, with traders seemingly spooked over a Republican budget bill that could push U.S. fiscal debt into record territory.

President Trump made no mention of that on Tuesday during his trip to Capitol Hill to whip up votes for the legislation.

A reminder of the stakes: The bill could be key to Trump’s domestic agenda, and would determine fiscal policy for years.

It’s also making global investors ponder whether

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