The bond market rout is global. Here's what's driving it | CNN Business

Bond yields have been climbing across major economies, driven by worries over high government spending and expectations that central banks may keep interest rates “higher for longer.” While the U.S. Treasury market remains the focal point, yields have also risen on government debt in France, Germany, Italy, the United Kingdom, Japan, Canada and Australia, reaching multi-year and multi-decade highs earlier this week. Investors are selling bonds, pushing prices down and yields up, which can lift borrowing costs from mortgages to auto and student loans. Analysts say it’s not yet a crisis, but a warning. Yields eased Thursday.