Global sell-off in government bonds intensifies

Government bond yields rose in numerous countries on Tuesday, with investors selling off amid concerns over inflation and mounting public debts. 

The 10-year U.S. Treasury bond yield exceeded 4.7 percent Tuesday morning, marking its highest mark since October 2023.

The 30-year Treasury bond yield, meanwhile, is still above 5.2 percent. The 30-year yield was below 5 percent in late June, but has risen over the past two months — even reaching its highest point since April 2007 in mid-August. 

The rising bond yields in the U.S. hurt Americans attempting to purchase a home via higher mortgage rates. Borrowing costs for other products, such as cars, are also subject to pressures from the bond market. 

Rising yields are not limited to the U.S., either. Japan’s 10-year bond yield surpassed 3 percent Tuesday before closing at 2.994 percent, the note’s highest mark in roughly 30 years.

In the U.K., the 10-year bond is trading at above 5.2 percent for the first time since July 2008 — amid the global financial crisis. 

Economist Robin Brooks pointed to rising government debt for the bond sell-off, saying U.S. markets “are more focused on the trajectory of the deficit” than any other data points.

“The........

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