Global bond rout deepens as yields hit multi-decade highs

A global bond selloff is intensifying as government borrowing costs hit multi-decade highs, driven by concerns about widening fiscal deficits and sticky inflation. Despite the rout, U.S. Treasury Secretary Scott Bessent said he is not concerned, signaling disagreement with the market’s rate-stress narrative. Net effect: negative for duration/sovereign risk sentiment, but tempered by the official pushback.