Government borrowing costs are climbing worldwide, a bad sign for governments, borrowers, and anyone hoping for lower interest rates.

• Countries are dumping US government debt, pushing up the rates governments have to pay to borrow.
• This happens when lenders stop trusting that governments can pay them back, so they demand higher interest.
• The US 30-year bond yield topped 5%, the highest since 2007, right before the last financial crisis.
• The key 10-year bond rate jumped sharply since the Iran conflict began, raising borrowing costs across the board.
• Stocks keep rising anyway, a gap that worries some investors.

Outlook: If trust in government debt keeps slipping, borrowing costs stay high and pressure builds across markets.