Valley of the shadow of debt: bond-market jitters

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  The Economist.

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  Hello and welcome to The Intelligence from The Economist.

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  I'm Jason Palmer.

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  And I'm Rosie Blau.

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  Today on the show: the ever more serious plan to turn night into day using satellites,

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  and our take on The Social Reckoning.

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  First up, though.

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  Watching bond yields this year is about like watching global temperatures, kind of every year now.

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  Numbers that haven't been posted in decades, left, right, and center.

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  Yesterday, it was the 30-year Treasury touching a level last seen 24 years ago.

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  In France, 10-year yields are hovering just below a record of the same vintage.

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  Politicians and policymakers have been all a quiver for some time

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  about whether this all gets out from under them.

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  A panic, a sell-off, a rending of the financial fabric

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  like the eurozone crisis that kicked off in 2009.

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  So how aquiver should they be?

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  Across the rich world, government bond yields have been surging in recent months.

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  This has been seen in the United States, in Japan, in Europe.

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  And if you look across all advanced economies, government bond yields have increased to around 4% on average.

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  Alex Domash is an economics correspondent for The Economist.

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