Why bond yields are rising and why everyone should care

Treasury Secretary Scott Bessent speaks at a news conference, Monday, Aug. 24, 2026, at the Treasury Department in Washington. (AP Photo/Julia Demaree Nikhinson)

Treasury Secretary Scott Bessent speaks to reporters at the G20 Finance Ministerial in Asheville, N.C., Tuesday, Sept. 1, 2026.(AP Photo/Gerald Herbert)

The seal of the Treasury Department is pictured before Treasury Secretary Scott Bessent arrives to speak at a news conference, Monday, Aug. 24, 2026, at the Treasury Department in Washington. (AP Photo/Julia Demaree Nikhinson)

WASHINGTON (AP) — Interest rates on government bonds are rising again around the world, making borrowing more expensive for consumers and businesses and heightening concerns about whether governments are issuing more debt than financial markets can handle.

Rising bond yields are one of the few forces in the world strong enough to get politicians to snap to attention. They can also have a big impact on Americans’ personal finances and on the broader economy. The bond market can dictate how much ordinary people have to pay on their mortgages and car loans, as well as how much they earn from their savings accounts and 401(k) plans.