Treasury Secretary Scott Bessent speaks to members of the media outside the White House in Washington, Thursday, Aug. 20, 2026. (AP Photo/Jacquelyn Martin)
\n\nA for sale sign is displayed in front of a home in Evanston, Ill., on March 25, 2026. (AP Photo/Nam Y. Huh, File)
\n\nTreasury Secretary Scott Bessent walks past reporters following an interview with Fox News outside the White House, Thursday, July 30, 2026, in Washington. (AP Photo/Julia Demaree Nikhinson)
\n\nNEW YORK (AP) — The bond market is one of the few forces in the world strong enough to get politicians to snap to attention. It also helps 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.
\n\nThis week rising bond yields forced the U.S. Treasury Department into an unusual intervention and raised the specter of higher borrowing costs putting the brakes on consumer spending, the lifeblood of the economy. It also sparked concerns that investors might finally be thinking twice about financing a seemingly endless flow of government borrowing.
\n\nHere’s a look at what’s going on and how it affects everyone:
\n\nWhen governments and big companies borrow…
Original source: https://apnews.com/business