The countries most threatened by turbulent bond markets

by · Australian Financial Review

The Economist
Oct 12, 2026 – 10.16am

Forever, it turns out, was temporary. For much of the 2010s, economists were worried that interest rates would remain near zero indefinitely, held down by too much saving and too little investment. All of a sudden, the reverse is true. Borrowing costs are leaping across the rich world and governments are starting to sweat.

On October 5, the yield on America’s 10-year bonds topped 5.3 per cent, its highest in more than 20 years. Even in Japan, long a byword for near-zero rates, the 10-year yield has climbed above 3 per cent for the first time since 1996.

Loading...

The Economist

Save
Log in or Subscribe to save article
Share

Copy link

Copied

EmailLinkedInTwitterFacebook

Copy link

Copied

Share via...
Gift this article

Subscribe to gift this article

Gift articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber? Login

Read More

Latest In Debt markets

Fetching latest articles