Bond Market Quake Is Bad News for Everyone

“The cost for the U.S. government to borrow money hit its highest level since 2007 on Tuesday, the latest in a worrisome series of developments that have rattled global markets and American consumers alike,” the Washington Post reports.

“The sell-off in U.S. Treasury securities — at $31 trillion the world’s largest financial market — comes amid surging public debt in the United States, Europe, Japan and Canada; renewed conflict in the Middle East; and uncertainty about the Federal Reserve’s intentions.”

”The rise in long-term Treasury yields creates another headwind for the U.S. economy, one that will lift borrowing costs for businesses and consumers as well as official Washington.”