Why the bond market is barfing
Around the world, investors are sending a clear-as-glass signal: After years of profligate debt issuance, the world’s major economies are now facing the bill.
The big picture: A sell-off in bond markets over recent weeks is signaling that the long-term trajectory for interest rates is higher than it has been in decades. The drop in long-term bond prices means a rise in the interest rates governments must pay to borrow money.


