The global surge in bond yields isn't just a market issue. It carries immediate socio-political consequences.

Case in point: the average 30-year US mortgage rate has just breached 7%. (CNBC reporting below). #markets #economy #mortgages #housing #yields #bonds https://t.co/ukfWxOQu1U — via @elerianm

Global bond yield surge pushes 30-year US mortgage rate above 7%, signaling socio-political consequences.