Analysis-Bond vigilantes circle battered US Treasury market
Bond investors' rising concerns around U.S. government spending and its ballooning budget deficit are contributing to a steep sell-off that has pushed Treasury prices to 17-year lows. So-called bond vigilantes - investors who punish profligate governments by selling their bonds, driving yields higher - were a feature of markets in the 1990s, when concerns over U.S. federal spending pushed Treasury yields to 8%.