By Daily Crux Editor Brian Hunt:

An update on one of the "must watch" numbers in the market: Yields on U.S. 10-year bonds just reached their highest high since November.

The yield is the number that reflects the price the U.S. government has to pay to borrow money… and it ticks up when folks get worried about inflation. As the WSJ reports on the situation:

The selling extended the rout of longer-dated Treasurys that began last week on worries that sharply rising deficits could lead to an eventual loss of the U.S. government's triple-A credit ratings. During Tuesday's trading, the 10-year note's yield broke above the closely monitored 3.5% level for the first time since mid-November.

Read full article...

More on the dire situation in bonds:

Warren Buffett warns of massive investment bubble to pop

Marc Faber: "Gov't bond market is a disaster waiting to happen"

Treasury bond yields soar this week... inflationary boom coming

U.S. Treasury bonds suffer huge technical breakdown... sell immediately