Governments across the globe are facing a growing reality: attracting bond investors requires offering higher yields. From the US to Japan, the trend is unmistakable. As borrowing costs climb, central banks and treasuries are being forced to sweeten the deal just to keep capital flowing in.

This shift is reshaping debt issuance strategies worldwide. Countries are increasingly reluctant to lock into longer-term debt instruments—the risk-reward calculus has simply changed. When short-term rates become more attractive, why commit to extended maturities?

For investors watching macro trends, this matters. Rising government bond yields ripple through asset allocation decisions, influence risk appetite, and ultimately shape liquidity flows across markets. It's a reminder that broader economic cycles don't exist in isolation—they directly impact how capital moves through different asset classes, including digital assets.