Charting the Global Economy: Strong Data Send Bond Yields Surging

US Treasury yields surged this week, sparking a broader selloff in global bond markets as investors brace for higher interest rates for longer.

Longer-dated US government yields reached levels last seen in the financial crisis, fueled in part by strong job-market data. That culminated with a report at the end of the week showing employment unexpectedly surged last month, bolstering the case for another Federal Reserve rate hike.