Treasury Secretary Scott Bessent’s latest effort to control yields on long-dated U.S. bonds was short-circuited after just one day, as the U.S. national debt hit the $40 trillion mark and oil prices rose as a result of the Iran war.

Many people don't pay attention to bond markets, but they should — especially now. This is why they matter and why the drop in bond prices is signaling investor concerns about the U.S. economy.

The yield on the 30-year US bond rose to 5.31%, its highest level since 2007 as the US-Iran ceasefire officially came to an end.

A rise in oil prices on Thursday is sending worries about inflation and yields in the bond market higher, erasing some of the relief the U.S. Treasury Department created the day before

B OND MARKETS are unsettled, and so, in turn, is America’s government. On August 19th the Treasury said that from next month it would increase its own purchases of longer-dated debt. This reflects “increasing administration unease” about yields, believe analysts at Deutsche Bank.

By Harry Robertson LONDON, Aug 21 (Reuters) - Germany and the broader euro zone are selling record amounts of bonds, adding to the pressures driving European bond yields to multi-year highs as the continent continues to borrow heavily amid crises ranging from COVID-19 to the Iran war.

Shares are mostly higher in Asia, with South Korea’s benchmark Kospi rebounding more than 6%. U.S. futures also were trading higher early Thursday after the U.S.