🚨 Global bond markets are flashing a warning—while stocks keep pushing higher.

The NASDAQ Composite just hit fresh highs, but the real story is happening beneath the surface.
Yields are rising across the world:
• US long-term yields above 5%
• Japan yields at multi-decade highs
• UK and Europe pushing toward crisis-era levels
Higher yields = higher borrowing costs across the system.
Mortgages, debt, credit—everything gets tighter.
At the same time:
• US debt has crossed $39T
• Interest payments nearing $1T annually
That’s a structural pressure, not a short-term issue.
Now add energy risk. Tensions around the Strait of Hormuz have pushed oil higher, feeding inflation and limiting how much central banks like the Federal Reserve can ease.
Here’s the key:
This kind of divergence—strong equities vs stressed bonds—was last seen before the 2007–2008 Global Financial Crisis.
Back then, bonds warned first.
Stocks caught up later.
Right now:
Smart money is cautious.
Retail is chasing highs.
And historically, the bond market tends to get it right.