In this episode of The Economic Effect, John Silvia examines the recent spike in global sovereign debt yields across the U.S., UK, and Japan—an early warning signal of deeper financial pressure. Drawing from insights by the Financial Times and Wall Street Journal, John explains how rising term premiums, economic policy uncertainty, and reduced foreign demand for U.S. debt are reshaping investor expectations. With countries like the UK and Japan shifting their borrowing strategies, and inflation proving stickier than anticipated, markets may be headed for a sustained period of higher interest rates. John highlights the risks for equity valuations and the limits of potential Fed action this summer. This is a critical listen for investors and policymakers looking to understand the ripple effects of today’s fiscal decisions on tomorrow’s global markets.
 
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