Bond markets are being hit hard — and it's likely to impact you
Bonds are being pummeled as investors fear interest rates will stay higher for longer because of high inflation. That will raise borrowing costs across the economy even more.
There is a sharp sell-off in the bond market, and it has big implications on both the economy and people's pocketbooks.
Yields on U.S. government bonds, especially the 10-year Treasury note, determine the interest rates that people pay on a lot of their debt, including mortgages and credit cards.
And a key bond yield hasn't been this high since 2007.
Several factors are driving the sell-off, including stronger-than-expected economic data and the government's worsening finances.
Here is what you need to know about it.
How bad is the sell-off?
In 2022, the bond market
