Sovereign bond yields across major Western economies and Japan have surged to levels not seen in decades, marking a significant shift in global debt markets. In the United States, government bond yields have climbed to their highest point since 2007, while the United Kingdom is experiencing borrowing costs last observed in 1998.
Continental Europe and Asia are seeing similar trends, with yields in Germany and France reaching 2008 levels and Japan hitting highs not recorded since 1996. Conversely, China stands as a notable outlier in this global trend, with its government borrowing costs currently hovering near historical lows.