Donald Trump's Treasury Secretary, Scott Bessent, has announced that he is doubling the government's bond buyback scheme. The decision came in response to a major sell-off of US debt.

Global bond yields have risen worldwide, with Japan's borrowing costs crossing 3% for the first time in 30 years. The US has received criticism for the higher bond yields, with blame pointing to the economic impact of its war in Iran.

Why does the bond market have governments spooked? Is foreign money still willing to finance US debt? And how did we get to this point? DW speaks with Carsten Brzeski, an economist who worked at the Dutch Finance Ministry and the European Commission, about the possible answers to these questions.