The Japanese government bond market was already having a bit of a springtime nightmare, but a poor auction of 20-year debt earlier this week has sent long-end yields soaring to their highest levels ever.

Investors have been warily eyeing rising Treasury yields since the start of May, with some fretting that the latest jump in borrowing costs could soon start hurting stocks.

Japan's super-long government bond yields have spiked to record highs, as mounting political calls for tax cuts and big spending draw investors' attention to the country's fiscal woes.

The trade war has calmed down, but rising government borrowing costs pose a new worry.

Bond vigilantes appear to be circling the globe, sending yields on government debt higher partly on concern over worsening fiscal situations.

Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.

With the U.S. economy close to full capacity, more borrowing adds inflationary pressure, and so could lead the Fed to keep rates higher for longer.

You're gonna need unlimited continues to read this tale.