Rising bond yields add tens of billions to G7 countries’ debt costs

World’s biggest developed economies face higher financing costs since start of US-Iran war, weighing on public finances

When Treasury Secretary Scott Bessent said last week that Washington would at least double its purchases of long-term US bonds to a minimum of US$4 billion per operation, aiming to assuage investor concerns about the government's soaring borrowing costs, the move took markets by surprise.

The fluctuations could have huge impacts on the U.S. and global economy.

Eurozone Government Bond Yields Fall as Oil Price Retreats  WSJ