Why High Yields on Treasury Bonds, Government Debt Look Like the New Normal

Government borrowing costs have been climbing around the world as investors demand more compensation to entice them to hold longer-maturity debt. The rise in US bond yields even prompted Treasury Secretary Scott Bessent to announce expanded buybacks of long-dated government debt — an intervention that failed to stop yields on 10-year Treasuries from breaching 5% and hitting their highest level in almost two decades.