A bond's price and its yield move in opposite directions, so 'yields higher' means prices are falling. When a central bank signals it may raise rates, traders sell bonds — especially long-dated ones — because higher policy rates make today's fixed coupons look less attractive. Long bonds have the most 'duration' (price sensitivity to rate moves), which is why the 30Y is hit hardest.

The yield curve plots yields across maturities. Short yields track expected central-bank policy; long yields also carry a 'term premium' for holding risk over many years. When the long end sells off faster than the short end, the curve steepens — often a sign investors want more compensation to lend long, not a bet on imminent rate cuts.

Yields reflect each country's own growth and inflation outlook and central-bank stance. China's softer domestic demand and easier policy keep its yields low, so its bonds move differently from US Treasuries. For a beginner, this shows why holding bonds from several countries can smooth returns — when one market sells off, another may hold firm.

A revolver is a flexible corporate loan. Heavy borrowing by high-profile firms adds to overall credit demand; when lots of new debt competes for investors' cash, it can nudge up yields and spreads (the extra yield over government bonds that investors demand for taking company risk). Wider spreads mean investors want more reward for lending to companies rather than to the government.

Higher inflation is bad for bonds because it erodes the real value of their fixed coupons and makes the central bank likelier to keep rates high. Traders typically sell gilts on a hot inflation print, pushing gilt prices down and yields up. Sticky inflation also trims hopes of near-term BoE rate cuts, which weighs most on longer-dated gilts through their greater duration.