From Japan to Europe and the United States, officials are getting antsy as bond yields hit highs not seen in a decade or more, making borrowing more expensive for governments as well as businesses and consumers.

Governments across the world are spending beyond their means. When America's national debt surged to $US40 trillion last week, it led to a bond market sell-off, which was…

The US Treasury doubled bond buybacks to $4 billion per operation as national debt crossed $40 trillion, but 30-year yields near 5.33% quickly