Kai Risdahl

The yield on the 30-year U.S.

Treasury bond yields, of course, the interest the government has to pay.

Hit almost 5.2 percent this week, as high as the long bond has been since 2007.

That is news in and of itself.

But if you pull back a little bit, you will see the United States is not alone.

Bond yields in Germany, in the UK and in Japan are at multi-year highs as the war and the ensuing energy shock and inflation continue to ripple through the global economy.

There is a lot going on here.

So we've called Nicole Servi.

She's an economist at Wells Fargo.

Nicole, thanks for coming on.

Good to have you back.

This is not a solely American phenomenon.

I talked about the third year up in the introduction, but things are happening globally.

And I want to start with what happens when rates go up like this, yields, like on the whole planet.

Yeah.

Say more.

I mean, money is more expensive, basically, right?

I saw a great line in a newsletter, I think, yesterday, and I would credit it if I could remember.

But the quote which I wrote down is, too much debt, too little fiscal discipline, and no appetite for fixing either.

What do you think?