Treasury yields have soared to multi-decade highs this summer, raising borrowing costs for consumers and the federal government.

The nearly $32 trillion market for U.S. government bonds, called the Treasury market, offers a clear signal of where the economy may be headed. Yields on bonds tend to set the temperature for other interest rates, including mortgages and auto loans. They can affect everything from student loans to the housing market.

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U.S. stocks rose after the Treasury Department said it would ramp up bond repurchases.

Analysts said the recent rise in Treasury yields partly reflected investor expectations that A.I.-driven growth could keep interest rates elevated.

The yield on the 30-year Treasury this week hit its highest level since 2007, a rise that could put upward pressure on borrowing costs.

By Wayne Cole and Dhara Ranasinghe LONDON, Aug 21 (Reuters) - Global stocks were set for their biggest weekly fall since mid-July on Friday, as strain in global bond markets showed little sign of abating,