In the U.S. Treasury market -- considered the bedrock of the global financial system -- 10-year yields have jumped 20 basis points (bps) to 4.8% this week alone. Bond yields move inversely to prices, and asset managers who had held bonds expecting prices to rally are now throwing in the towel. Australian and Canadian 10-year bond yields have surged over 20 bps each this week , , and British 30-year government bond yields hit a fresh 25-year high above 5% on Wednesday . In a further sign of investor nervousness, the closely-watched MOVE bond volatility index is at a four-month high. (.MOVE)Rise in global yields beyond 10yr average levels Rise in global yields beyond 10yr average levelsRIPPLESGovernment borrowing costs influence everything from mortgage rates for homeowners to loan rates for companies.

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Persons: Jason Lee, Bond, Juan Valenzuela, Artemis, Vikram Aggarwal, that's, Everybody's, you've, Richard McGuire, Dhara Ranasinghe, Naomi Rovnick, Alun John, Yoruk Bahceli Chiara Elisei, Andy Bruce, Kim Coghill, Toby Chopra Organizations: Hong, REUTERS, U.S . Treasury, Federal Reserve, Reuters, P Global Market Intelligence, Jupiter, New York Fed, Rabobank, Thomson Locations: Hong Kong, Treasuries, British