Rising government debt in Australia and the US is driving bond yields to multi-year highs, with Australia's 10-year rate above 5% and US rates near 4.7%. Investors are spooked by a lack of clear spending plans, and the higher borrowing costs are hitting mortgage holders too.
financeWednesday, September 2, 2026
Global bond selloff deepens as yields spike
The bond market is having a moment, and not a good one. Rising government debt levels in Australia and the US are pushing yields to multi-year highs, with Japan's benchmark hitting 3% for the first time since 1996. This is triggering a global rate repricing that's starting to spook everyone from sovereign borrowers to mortgage holders.
Bond market jitters
The bond sell-off is the story today, with multiple pieces pointing to the same underlying anxiety about government debt and inflation.
Japan's benchmark yield hit 3% for the first time since 1996, adding to a global bond selloff fueled by inflation fears and geopolitical tensions. Brent crude above $91 per barrel isn't helping, and the concern is that capital will start shifting out of riskier assets.
Corporate and crypto moves
Meanwhile, companies are making their own plays, from Dell's AI-fueled revenue surge to Schwab testing crypto demand with an AVAX listing.
Dell reported record Q2 revenue of $47 billion and raised its full-year guidance to $192 billion, driven by a $95 billion AI backlog. The numbers are a signal that enterprise AI spending is still accelerating, not slowing.
Schwab is listing Avalanche's AVAX token on its crypto platform, and the question is whether mainstream brokerage access can drive real adoption beyond speculation. The real test will be wallet creation and app usage, not just trading volume.
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