Bond markets are getting hammered. Here’s what’s driving the sell-off

By John Towfighi, CNN New York (CNN) — Investors’ concerns over a range of issues from inflation to hefty government deficits are driving a bond market sell-off, creating a headache for policymakers and pushing up borrowing costs for governments and consumers. The 30-year US Treasury yield on Tuesday hit 5.34%, its highest level since 2007.