Recent fluctuations in global bond markets have resulted in significant spikes in U.S. Treasury yields, with the 10-year yield nearing the critical 5% mark, a level not reached since the challenges of the 2008 financial crisis. As investors react to rising yields in light of economic data and inflation fears, stock markets face mounting pressure. The selloff in bond markets has raised concerns about its impact on the economy, prompting analysts to consider whether the market is overreacting. The current environment suggests that rising bond yields could affect various aspects of everyday life for Americans, from increasing mortgage rates to influencing stock market dynamics.