Bond yields and oil prices are both climbing fast, a bad mix for stocks, borrowers, and anyone hoping for cheaper loans.

• The 10-year government bond yield has hit its highest level since 2023, pushing up borrowing costs across the board.
• Oil is surging, with Brent crude above $100 a barrel and US oil rising too.
• Companies loaded with AI-related debt are getting squeezed, and some have burned through their spare cash.
• September is historically the worst month of the year for both stocks and crypto.

Outlook: Rising rates and expensive oil point to more pressure on stocks and crypto in the weeks ahead.