Global long-term bond yields are surging, with U.S. 30-year Treasuries near 5% and U.K. gilts above 5.7%, as investors grow wary of mounting debt and political pressure on central banks. Safe-haven gold has hit a record $3,537, while economists told Fortune the bond market “can’t be primaried,” underscoring that investors will pull back if fiscal credibility deteriorates.

As traders head into the final leg of 2025 they are not doing so with overconfidence. In fact, if this week’s bond market is anything to go by , they’re nervous.

U.S. 30-year Treasuries will open a breath away from 5% today, one of their highest levels this year, following a sharp uptick since the end of last month. While yields pushing higher is one sign of a selloff, another is trading activity. That too has ti

See Full Page