Bond traders are surrendering to inflation fears. It's raising the stakes for Washington

The bond market is in a state of unrest. For now, policymakers in Washington are shrugging it off. Yields on 30-year Treasury bonds — a government bond that underpins long-term borrowing — climbed to 5.10% on Friday. Earlier in the week, they had surged to 5.2%, the highest level since 2007...