The bond market has been grabbing headlines and roiling global markets, particularly in the US and in Japan, where yields are surging and buyer interest remains low.

That matters, because as Bloomberg Opinion’s John Authers says, the yield on the 10-year treasury note is the most important number in world finance. 

On today’s Big Take podcast, John Authers joins Stacey Vanek Smith to explain what surging bond yields mean for interest rates and why we could be seeing a correction, not a crisis.

Read more: 
It’s Still Endless Summer for Bond Yields
Volatility Limits Post-Labor Day US Bond Rush to Six-Year Low 

We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer.

Hosted by Stacey Vanek Smith; Produced by Rachael Lewis-Krisky; Guest: John Authers; Edited by Naomi Shavin. Fact-checking by Brunella Tipismana Urbano; Engineering by Sean Carter. Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

The bond market has been grabbing headlines and roiling global markets, particularly in the US and in Japan, where yields are surging and buyer interest remains low.
That matters, because as Bloomberg Opinion&rsquo;s John Authers says, the yield on the 10-year treasury note is the most important number in world finance.&nbsp;
On today&rsquo;s Big Take podcast, John Authers joins Stacey Vanek Smith to explain what surging bond yields mean for interest rates and why we could be seeing a correction, not a crisis.
Read more: <a href="https://www.bloomberg.com/opinion/newsletters/2026-09-08/bond-yields-it-s-still-endless-summer?srnd=undefined">It&rsquo;s Still Endless Summer for Bond Yields</a> <a href="https://www.bloomberg.com/news/articles/2026-09-08/volatility-limits-post-labor-day-us-bond-rush-to-six-year-low?srnd=homepage-americas">Volatility Limits Post-Labor Day US Bond Rush to Six-Year Low&nbsp;</a>
We have a special Bloomberg subscription offer for podcast listeners at&nbsp;<a href="https://www.bloomberg.com/subscriptions/podcasts">Bloomberg.com/podcastoffer.</a>
Hosted by Stacey Vanek Smith; Produced by Rachael Lewis-Krisky; Guest: John Authers; Edited by Naomi Shavin. Fact-checking by Brunella Tipismana Urbano; Engineering by Sean Carter. Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

Big Take

Why the Bond Market Has Everyone On Edge

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/2a75b0d8-5426-42a8-9212-b4bf013f062b/transcript