A selloff in global bonds is driving up borrowing costs for governments, businesses and families across the developed world. Wall Street sees no end in sight. Bond yields are at 19-year highs, and investors are blaming the rout on everything from the continuing U.S.-Iran conflict, which has stoked inflation worries, to the deluge of tech-company bonds vying for debt funds’ cash. They are also anxious about budget deficits and a lack of clarity from a new Federal Reserve chairman. Few see eye to eye on exactly how much weight to put on any one factor, but most agree on one thing:…
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