Global bond yields hit a 19-year high as investors grow anxious over the situation in Iran and concerns about the pace of US federal debt accumulation. The surge in long-dated bond yields reflects heightened market stress, with investors reacting to geopolitical tensions and economic uncertainty. The US bond market saw a sharp decline, driving up the cost of borrowing for governments and corporations. This financial shift is expected to ripple across global markets, including New Zealand, where investors are also feeling the impact. The situation underscores growing worries about the stability of global financial systems in the face of political and economic pressures. As tensions persist, the cost of debt continues to climb, raising questions about the long-term implications for economies worldwide.