The world is getting more uptight about lending money to President Donald Trump's government — causing interest rates to climb in ways that are worsening affordability pressures, hampering economic growth and creating a new risk for Republicans in November's midterm elections.
The rise in energy prices following the Iran war has fed into bond markets that help finance the US government. Yields on 10-year US Treasury notes have climbed above 4.44%, up from 3.95% before the conflict began in late February. Mortgage rates have risen to their highest level in nine months, while auto sales have weakened.
