Since December of 2017 bond yields for US Treasuries have moved up substantially. The increase in bond yields is having an impact on the US stock market, as well as markets around the world.
What is driving bond yields higher?
One significant driver is the Tax Cuts passed in December of 2017. The tax cuts are leading to an increase in the budget deficit and the need for additional bond issuance. More bond supply can lead to lower bond valuations and higher bond yields.