Global bond markets are getting hammered. Here’s why that could make your life more expensive | CNN Business

Investors’ concerns over issues like inflation and hefty government deficits, plus more competition from corporate bonds, are driving a global bond market sell-off, pushing up borrowing costs for governments and everyday people alike. The 30-year US Treasury yield on Tuesday hit its highest level since 2007, rising to 5.34% before edging down slightly. The 10-year yield hit 4.74%, near the highest level of President Donald Trump’s second term. And it wasn’t just US bonds. In France and Germany, 10-year bond yields this week hit their highest levels since 2008 and 2011, respectively. In Japan, the 10-year yield hit its highest level in 30 years. Bond yields rise when prices fall. Investors are selling bonds, pushing prices lower and sending yields higher. But investors aren’t the only ones affected — far from it. Bond yields help set the interest rates that regular people pay for all kinds of loans. In the United States, for example, the yield on the 10-year Treasury influences mortgages rates, auto loans and rates for business loans. A steep rise in yields can make mortgages and loans more expensive, making it harder for many people to afford their lives. The global bond