John Authers, Columnist

The Great Bond Car Wreck — in Slow Motion

The phenomenon is truly global, indicating something broader is afoot.

May 19, 2026 at 4:00 AM UTC

John Authers is a senior editor for markets and Bloomberg Opinion columnist. A former chief markets commentator at the Financial Times, he is author of “The Fearful Rise of Markets.”

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Across the developed markets, bond markets are staging a slow-motion car wreck. Even Japan is joining in now, and the phenomenon is truly global: