As yields are dragged higher in the UK, Europe and Japan, the impact for consumers and businesses will be far-reaching‘Starve the beast’? The $40tn cost of Republicans’ false promises to cut spendingGovernment borrowing
Government borrowing costs around the world have surged to the highest levels in decades amid growing fears over US bond market turmoil. Anxiety about Donald Trump’s handling of the US economy, and concern that the US president’s war with Iran is driving up inflation, are causing a sell-off in the US bond market. Highlighting the world economy’s dependence on US stability, the yield – in effect the interest rate – on UK, French, German and Japanese government debt has been dragged higher.
Here we look at the factors driving the bond market, and the likely consequences.
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