Why bond yields are rising and why everyone should care

Nearly everyone will feel the impact of what’s happening in the bond market, regardless of how remote or abstract it may seem. This surge in bond yields is affecting anyone who borrows money, from individuals trying to manage high inflation to businesses constructing data centers for artificial intelligence technology. It even impacts those who do not borrow money, as higher yields can increase interest payments for federal governments and impact 401(k) savings. Understanding the bond market and its implications is crucial for all U.S. taxpayers.