Government bond yields are jumping around the world, which is bad news for stocks, housing, gold and crypto all at once.

• Japan's 10-year bond yield hit 3% for the first time since 1996, and US yields are climbing fast too.
• Efforts to stop it have failed — the US buying back its own debt and Japan stepping in to support its bonds both did nothing.
• Stocks slipped on the bond move, and housing is already cracking, with Las Vegas homes and condos falling hard and sellers waiting months for offers.
• Gold and silver are falling despite the turmoil, with silver down 50% from its high — proof they don't simply track inflation.
• Crypto's recent jump was a short squeeze, not a real recovery, and triggered one of the biggest waves of forced selling in its history.

Outlook: Expect a further slide this fall — a 15–20% stock drop would likely push Washington into aggressive efforts to prop the market back up.