Soaring bond yields signal new era of higher borrowing costs

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Soaring bond yields signal new era of higher borrowing costs - Business Mirror

Quick Summary:

For those unsettled by the relentless rise in government bond yields in the US and across much of the world lately, the message from markets is getting clearer by the day: Get used to it.

The rate on 10-year notes alone has soared more than a percentage point in four months and now is within sight of the 5 percent barrier last breached briefly in 2023 and otherwise not seen since before the global financial crisis nearly two decades ago.

Meanwhile, yields on longer-dated debt have climbed faster than those of their short-term counterparts, a sign of concern for the long-term outlook.“Rising term premium to us indicates a growing concern around the US fiscal path,” said Zachary Griffiths, head of US investment grade and macro strategy at CreditSights.“The steepening of the curve is also more consistent with the historical relationship between large and rising deficits.